Retirement Income Planning
New $6,000 Senior Deduction Could Shape Retirement Income Plans
A temporary $6,000 “senior” deduction (up to $12,000 for married couples filing jointly) is available for tax years 2025–2028, for people age 65+ and it applies whether taxpayers itemize or take the standard deduction and regardless of whether or not they have Social Security benefits on their return. Experts say it creates a meaningful opportunity for retirees to proactively manage taxable income during this four-year window.
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