A New Senior Tax Deduction—With a Catch

The One Big Beautiful Bill introduced a new $6,000 deduction for taxpayers age 65 and older, separate from Social Security and the standard deduction. This short explains how the deduction reduces taxable income, when income phase-outs begin, and why timing retirement income now matters more than ever. If you’re planning distributions under the OBBB, this detail can quietly change the outcome.

Feel free to call me at (469) 742-0283 and let’s schedule some time to talk about the tax planning strategy that works best for you.

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ABOUT JOHN HARMAN
John Harman is a CPA and founded Harman CPAs and Associates, one of the most successful tax planning companies in the United States. Learn more at https://www.mckinneytax.com
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Harman CPAs and Associates, PLLC with its main office at 1402 S Custer Rd, Suite 102
McKinney, TX 75072. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Harman CPAs and Associates, PLLC or any of its employees or CPAs. You should not act or rely on any of the information contained herein without seeking professional legal advice.

#taxplanning #CPA #savemoney #taxlawchanges #OBBB #OneBigBeautifulBill #2025taxes #retirementplanning

Видео A New Senior Tax Deduction—With a Catch канала mckinneytax