The Senior Bonus Deduction: How Retirees Can Claim Up to $12,000 in New Tax Savings
The One Big Beautiful Bill Act created a new $6,000 tax deduction for seniors 65+. Here's how to maximize this benefit and reduce your 2025 and 2026 tax bills.
205 articles found for "passive income"
HSA Limits Hit Record Highs in 2026: How to Save $8,750 Tax-Free for Healthcare
The IRS raised 2026 HSA contribution limits to $4,400 for individuals and $8,750 for families, offering Americans the triple tax advantage for healthcare savings.
Dependent Care FSA Jumps 50% to $7,500: Parents' Biggest Tax Break of 2026
The IRS raised the dependent care FSA limit from $5,000 to $7,500 for 2026—a historic 50% increase that could save working parents thousands on childcare costs.
The Retirement Revolution: What Every Saver Must Know About 2026's Biggest Changes
Major retirement savings changes take effect in 2026, including higher contribution limits, mandatory Roth catch-ups for high earners, and new super catch-up provisions. What you need to know.
The New Non-Itemizer Charitable Deduction: How to Claim Up to $2,000 While Taking the Standard Deduction
For 2026, a new tax benefit lets you deduct charitable donations even if you take the standard deduction. Here's how the non-itemizer charitable deduction works.
Estate Tax Exemption Hits $15 Million: What High-Net-Worth Families Need to Know for 2026
The federal estate tax exemption rises to $15 million in 2026, a 7.2% increase. Here's what wealthy families should know about planning their legacy this year.
The Long-Term Care Insurance Loophole: How Retirees Can Now Tap 401(k)s Penalty-Free
A new rule effective December 29, 2025 allows retirees under 59.5 to withdraw up to $2,500 annually from retirement accounts penalty-free for long-term care insurance premiums.
Medicare Part B Premium Jumps 9.7% in 2026: The Second-Highest Increase in History
The standard Medicare Part B premium rises to $202.90 in 2026, a 9.7% increase that partially offsets Social Security's 2.8% COLA for millions of retirees.
The 'Super Catch-Up' Is Here: Workers 60-63 Can Now Save Up to $35,750 in Their 401(k) for 2026
A new SECURE 2.0 provision allows workers aged 60-63 to contribute an extra $11,250 to their 401(k) in 2026—$3,250 more than standard catch-up contributions. Here's how to maximize this opportunity.
Child Tax Credit Made Permanent at $2,200 With New 'Trump Accounts' for Newborns
The One Big Beautiful Bill Act made the child tax credit permanent at $2,200 per child and created 'Trump Accounts' that give newborns $1,000 starter investments.
High Earners Face Mandatory Roth Catch-Up Rule Starting Tomorrow—What You Need to Know
Beginning January 1, 2026, workers earning over $150,000 who make catch-up contributions to their 401(k) must do so on a Roth basis. Here's how to prepare for this major SECURE 2.0 change.
The $6,000 Senior Bonus: How Americans 65 and Older Can Slash Their 2025 Tax Bill
A new $6,000 tax deduction for Americans 65 and older went into effect in 2025 under the One Big Beautiful Bill Act. Here's how to qualify and maximize your savings.