Tax season often carries a distinct financial weight for older Americans. Fixed incomes, Social Security benefits, retirement distributions and rising healthcare costs all factor into a filing picture ...

Deductions can lower your tax bill.

A big, shiny number landed in the headlines last year and millions of older Americans took notice. A new $6,000 senior bonus deduction, created under the July 2025 tax package often referred to as the ...

Christine Benz: Hi, I’m Christine Benz for Morningstar. People who are 65 and older may be able to take advantage of a new senior deduction starting in 2025. Joining me to discuss what you need to ...

Tax rules change every year, and taking advantage of a new deduction can be a smart way to avoid money mistakes in retirement. A new IRS deduction created under the One Big Beautiful Bill Act (OBBBA) ...

Procrastinators, beware: Tax Day is April 15, less than a month away. Before you file a return, make sure you're up to date on all of the new deductions that are available for the first time. Then, ...

A bigger standard deduction, changes in the itemizing rules and new temporary deductions all complicate the decision. Here’s how to choose the option that’s best for you. When it comes to federal ...