The One Big Beautiful Bill (OBBB) is one of the most significant tax updates in recent years—and for retirees, it’s not just about what changed, but how it affects real-world decisions. From a new $6,000 deduction for seniors to changes in how overtime, tips, and even mortgage interest are taxed, these changes can have a significant impact on your retirement plan. What You Should Know 👉 The $6,000 senior bonus deduction is introduced, but it’s not permanent. 👉 Tips and overtime may be tax-deductible—but rules vary by income. 👉 The SALT cap increases to $40K, which may affect itemizing. 👉 Social Security taxes stay the same. The One Big Beautiful Bill brings big updates, but also complexity. This episode breaks down the parts of the bill that pertain to retirees. -- Ready to take the next step? Schedule a RetireReady Call at https://bit.ly/3WXxCBH Get the tools you need to prepare for retirement with the Retire Your Way Toolkit: https://bit.ly/4oKpQXR -- Loren Merkle, CFP®, RICP®, Certified Financial Fiduciary® https://merkleretirementplanning.com/staff-members/loren-merkle/ Clint Huntrods, Certified Financial Fiduciary®, PhD https://merkleretirementplanning.com/staff-members/clint-huntrods/ Molly Nelson, Host of Retiring Today with Loren Merkle https://merkleretirementplanning.com/staff-members/molly-nelson/ -- This video does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Merkle Retirement Planning LLC, Elite Retirement Planning LLC, MRP Insurance LLC, or any other third party regardless of whether such security, product or service is referenced in this episode. Furthermore, nothing in this episode is intended to provide tax, legal, or investment advice and nothing in this episode should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Merkle Retirement Planning, LLC does not represent that the securities, products, or services discussed in this episode are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation. Medicare services provided through MRP Insurance, LLC. Any other services related to insurance are an outside business activity and are not offered through or supervised by Elite Retirement Planning, LLC. MRP Insurance, LLC, is not affiliated with or endorsed by any government agency. This is an advertisement for insurance. By responding to the ad, you will be put in contact with a licensed insurance agent offering Medicare Advantage Plans, Medicare Supplement Plans, and Prescription Drug Plans. We do not offer every plan available in your area. Currently we represent [5] organizations which offer [22] products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.
