Trump's 'Big, Beautiful Bill' impact social security
Digest more
A new tax break aimed at seniors may lighten the load on retirees’ Social Security income, but it’s not as sweeping or permanent as some headlines suggest. Tucked inside the “One Big Beautiful Bill,” signed into law by President Donald Trump on July 4,
President Trump vowed to end taxes on Social Security, but the One Big Beautiful Bill stops short of fulfilling that promise.
This list of states that tax Social Security benefits has been shrinking. As of 2016, for example, 13 states taxed Social Security.
Senior citizens are getting a tax break in President Donald Trump’s sweeping tax and spending cuts package, but it’s not the one the president promised on the campaign trail last year.
The good news is that most states don't tax Social Security benefits at all. In more than 80% of all U.S. states, Social Security income is completely exempt from any state income taxes.
President Trump's "big, beautiful bill" included a "senior bonus," a new temporary tax deduction for Americans over 65.
The "Big Beautiful Bill" did not actually eliminate taxes on tips, overtime, or Social Security, but many people will be able to claim new income tax deductions that will reduce federal taxes on such income.
5h
Money Talks News on MSNPlan Now: Social Security Tax Trap Catching More Retirees Every YearSurprised by taxes on Social Security benefits? Many retirees don't realize their benefits can be federally taxed based on combined income calculations.
Retired professor Larry White says the email message he got on July 4 from the Social Security Administration was unlike any he’s ever seen from the agency. “The Social Security Administration (SSA) is celebrating the passage of the One Big,