Retirement & Taxes
Long-term financial planning, retirement accounts, government benefits, tax law, and IRS rules. Covers the intersection of policy and personal finance that affects how people save, invest, and plan ahead.
Latest in Retirement & Taxes
Who can deduct up to $25,000 in tips this year? Workers in jobs the IRS lists as customarily tipped
Millions of service-sector workers across the United States can now subtract up to $25,000 in tip income from their federal taxable earnings, but only if...
Who can write off up to $10,000 of car-loan interest? Buyers of new U.S.-assembled vehicles, through 2028
Buyers who finance a new car assembled in the United States can now deduct up to $10,000 in loan interest each year for tax years...
$274 a month is what Ozempic and Wegovy will cost Medicare in 2027, down about 71%
Medicare beneficiaries who rely on Ozempic or Wegovy will pay sharply less starting in 2027 after the federal government locked in a negotiated price of...
New Jersey is mailing Senior Freeze property-tax relief forms, due November 2
New Jersey’s Division of Taxation is sending paper application booklets to more than 500,000 households for the Senior Freeze property-tax reimbursement, with a filing deadline...
$3,938.58 a month now goes to a single veteran rated 100% disabled
A single veteran with a 100 percent disability rating and no dependents now receives $3,938.58 per month from the Department of Veterans Affairs. That figure,...
A new House bill would raise Social Security checks by gradually taxing wages above the $184,500 cap, but it still has to clear the Senate
Millions of Americans earning above $184,500 could face new payroll taxes on a slice of their income under a House bill that would also increase...
23 health systems are dropping Medicare Advantage plans for 2026, sending patients to find new in-network care
Twenty-three health systems have decided to exit Medicare Advantage plan networks for 2026, forcing millions of seniors to search for new in-network doctors, switch plans,...
6% of Vanguard savers took a hardship withdrawal last year, triple the pre-pandemic rate
Six percent of Vanguard retirement savers took a hardship withdrawal last year, triple the rate recorded before the pandemic. That figure, widely cited across the...
Who can deduct up to $12,500 of overtime pay? Workers with FLSA overtime on a W-2, starting with 2025 returns
Millions of hourly workers who logged extra shifts in 2025 now stand to reclaim a slice of those earnings at tax time. A new above-the-line...
Profit over $250,000 on a home sale, or $500,000 for couples, is taxable, a cap frozen since 1997
Homeowners who sell for a large gain face a hard line in the tax code: profit over $250,000 on a home sale, or $500,000 for...
Without a fix, Social Security would cut everyone’s checks 22% when its trust fund runs dry in 2032
Every American collecting Social Security retirement benefits faces a 22 percent pay cut in roughly six years if Congress does nothing. The Social Security Board...
Workers 60 to 63 can add an extra $11,250 to a 401(k)
Americans between the ages of 60 and 63 can now stash up to $11,250 in extra catch-up contributions inside a 401(k), a benefit that sits...
550,000 Medicare Advantage members will be dropped as Humana exits markets it calls unprofitable for 2026
Roughly 550,000 people enrolled in Humana Medicare Advantage plans face the loss of their current coverage after the insurer announced it will pull out of...
The beneficiary form on your IRA overrides your will, and an outdated one can send savings to an ex
A single form filed years ago with a brokerage or retirement plan administrator can override every instruction in a person’s last will and testament. When...
3.8% is now Social Security’s likely 2027 raise, about $77 more a month for the average retiree
Roughly 68 million Social Security beneficiaries could see their monthly checks rise by about $77 starting in January 2027, based on early modeling that pegs...
Social Security now changes your direct deposit in a single day and has tightened ID checks to block thieves
Tens of millions of Social Security beneficiaries can now get a direct deposit change processed in a single business day, a speed-up the agency paired...
A Senate bill, the Social Security Expansion Act, would lift checks by taxing earnings above $250,000
Millions of Social Security recipients could see their monthly checks rise by an average of $200 per month under a Senate proposal that would fund...
Your 2025 tax return decides whether you’ll owe Medicare’s high-income surcharge in 2027
Medicare beneficiaries filing 2025 tax returns are setting the income baseline that the Social Security Administration will use to calculate premium surcharges two years from...
The average retirement account holds $167,970, but the typical one holds just $44,115
Most Americans saving for retirement through a 401(k) hold far less than the headline number suggests. Vanguard’s review of 4.6 million participant accounts found an...
Medicare Advantage plans are expected to trim dental, vision and drug perks in 2027
Millions of older Americans who chose Medicare Advantage for its dental cleanings, eye exams, and prescription drug extras could see those perks shrink or disappear...