5 BIG Changes for 2026 Tax Season

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📌 NEW 2025–2026 TAX CHANGES: How Retirees Can Save Thousands Under the OBBB (One Big Beautiful Bill)

If you’re nearing retirement—or already retired—this is a must-watch breakdown of the biggest tax changes coming for the 2025 tax year. Thanks to the One Big Beautiful Bill (OBBB), millions of Americans over 65 will qualify for new deductions, bigger savings, and smarter retirement strategies that could dramatically lower their 2026 tax bill.

In this video, we cover:
✔️ Higher standard deductions for retirees
✔️ The new $6,000–$12,000 senior deduction
✔️ The surprising car loan interest deduction (up to $10,000)
✔️ Expanded 401(k), 403(b), and 457 contribution limits
✔️ Supersized catch-up contributions for ages 60–63
✔️ The new tip income deduction (up to $25,000)
✔️ The overtime pay deduction for older workers
✔️ Income phaseouts and eligibility rules
✔️ How to maximize these breaks before they expire

Whether you’re living on Social Security, drawing from retirement accounts, working part-time, or still maximizing your savings before you retire, this guide lays out every opportunity to cut your tax bill in 2025.

#cpa #LenaPetrovaCPA #personalfinance #financialeducation #taxplanning #irs #taxtips

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