Title: Trump’s New Tax Plan Could Cut Key Deductions for Seniors on Social Security
Article Snip: "...For seniors who depend primarily on Social Security and limited retirement savings, this change could result in a higher effective tax burden, despite broader cuts elsewhere in the bill.
Key points include:
Low-income seniors could lose tax relief if the elimination of the extra deduction isn’t offset elsewhere.
Social Security benefits are taxable above certain income thresholds, meaning more income may now be exposed to taxation.
Seniors with modest part-time work, annuities, or pensions may see a noticeable increase in tax liability.
..."
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