Tax Planning Services
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Make More Informed Tax Decisions with Financial Planning
- Modified adjusted gross income (MAGI) thresholds
- Federal and state tax information
- Roth conversion considerations
- Charitable deductions
- Qualified business income (QBI) analysis
- Relevant pending tax legislation

Frequently asked questions families ask us.
No — Social Security is still taxable. The OBBBA created a new $6,000 senior deduction for filers 65+ that may reduce the income that triggers SS taxation for some retirees, but does not change the taxation rules themselves. Here's what actually changed.
Read more here: https://www.familywealthadvisory.com/blog/is-social-security-tax-free-now-the-one-big-beautiful-bill-act-explained
The OBBBA created a new per-person deduction of $6,000 ($12,000 joint) for filers age 65 and older, available for tax years 2025 through 2028 only. It phases out above $75,000 individual/$150,000 joint MAGI and expires after 2028 unless extended.
Read more here: https://www.familywealthadvisory.com/blog/the-new-6000-senior-deduction-who-qualifies-and-what-it-means-for-your
