We’ve got the latest insights, practical tips, and updates to help you make smarter financial decisions and move closer to financial freedom. Whether you’re planning for taxes, tracking your investments, or just staying informed, there’s something here for everyone.

Starting in 2025 through 2028, taxpayers age 65+ can claim a new $6,000 Senior Tax Deduction per person, on top of the existing standard deduction. Single filers can deduct $6,000, while married couples filing jointly can deduct up to $12,000 if both spouses qualify. The benefit begins to phase out at $75,000 MAGI for singles and $150,000 for joint filers, shrinking by $60 for every $1,000 over the limit. It fully disappears at $175,000 for singles and $250,000 for married couples, making income planning critical. This temporary deduction is one of the most powerful tax breaks for seniors in years—and one retirees should plan around before it expires.

A Roth IRA is a retirement account funded with after-tax dollars that provides tax-free growth and tax-free withdrawals in retirement. You can withdraw your contributions at any time, and earnings can be taken out tax-free after age 59½ as long as the account has been open for five years. Unlike traditional retirement accounts, Roth IRAs do not have required minimum distributions, allowing your money to grow tax-free for as long as you choose. Income limits determine who can contribute directly, though strategies like Roth conversions may still allow access to the benefits. A Roth IRA is especially valuable for those who expect to be in a higher tax bracket later and want flexible, predictable, tax-free income in retirement.

Watch tax bracket thresholds
A small income increase can trigger higher marginal tax rates.

Plan Roth contributions strategically
Pay taxes now at lower rates for tax-free income later.

Use FSAs before they expire
Unused funds may be forfeited at year-end.

Live below your means
Lifestyle inflation is the enemy of long-term wealth.

Know where your money goes
Track spending to spot leaks and habits.

Don’t compare finances
Your financial path is unique.

That’s a wrap for this week! Remember, small, consistent steps in managing your taxes, finances, and investments can have a big impact over time. Stay informed, take action, and keep moving closer to financial freedom.

This newsletter is for informational purposes only and is not financial, investment, or tax advice. Always consult a qualified professional regarding your specific financial situation before making decisions.

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Stay savvy, stay empowered,
— The TaxFi Solutions Team