Reported 1 day ago
The recently signed 'One Big Beautiful Bill' introduces significant tax changes that impact retirees, including the continuation of lower income tax brackets and an increased estate tax exemption. While retirees can benefit from lower rates and healthcare deductions remain, they face potential risks with rising taxes in 2026 and additional costs from Medicare premiums. Experts advise retirees to take proactive steps such as Roth conversions and estate planning to optimize their tax situation amidst these changes.
Source: YAHOO