On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law. It implemented major changes for individual, corporate, and specialized taxes; restructured safety-net programs like Medicaid and SNAP; increased government spending on defense and immigration reform; and pivoted federal support from green energy to fossil fuels. Let's see how those changes could impact your retirement plans.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The OBBBA introduces a new senior tax deduction of $6,000 for individuals aged 65 and older, and $12,000 for married couples if both individuals are at least 65 years old. That deduction can be stacked with the baseline standard deduction and existing over-65 bonus deductions, which means a senior married couple can shield up to $47,500 from federal income taxes.
However, this new deduction phases out at a rate of 6% for every $1,000 in Modified Adjusted Gross Income (MAGI) exceeding $75,000 for single filers and $150,000 for married joint filers. It disappears at $150,000 and $250,000 for single filers and married joint filers, respectively.
The OBBBA also raised the State and Local Tax (SALT) deduction cap from $10,000 to $40,000 through 2029. That increase should help retirees in high-tax states preserve much more cash.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The OBBBA introduces a new senior tax deduction of $6,000 for individuals aged 65 and older, and $12,000 for married couples if both individuals are at least 65 years old. That deduction can be stacked with the baseline standard deduction and existing over-65 bonus deductions, which means a senior married couple can shield up to $47,500 from federal income taxes.
However, this new deduction phases out at a rate of 6% for every $1,000 in Modified Adjusted Gross Income (MAGI) exceeding $75,000 for single filers and $150,000 for married joint filers. It disappears at $150,000 and $250,000 for single filers and married joint filers, respectively.
The OBBBA also raised the State and Local Tax (SALT) deduction cap from $10,000 to $40,000 through 2029. That increase should help retirees in high-tax states preserve much more cash.
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