There are only eleven more days left in 2025. So, if you plan on taking advantage of some of the new tax changes from the One Big Beautiful Bill, now is the time to get in a hurry. This is one of the changes and how you can claim it. If it doesn't apply to you share it with someone that can claim it. If you have questions join the community and post them in the feed. I will be sharing tips throughout the tax season. Happy Saturday and see you in the community. Deduction for seniors: Overview of the deduction - Effective 2025 through 2028, individuals age 65 and older may claim an additional $6,000 deduction. - This is in addition to the standard deduction for seniors available under existing law. - Applies per eligible individual (or $12,000 for a married couple if both spouses qualify). - Phases out for taxpayers with modified adjusted gross income over $75,000 ($150,000 for joint filers). Who qualifies - You must be age 65 on or before the last day of the tax year. - Available for eligible taxpayers (both itemizing and non-itemizing). How to claim the deduction - Include your Social Security number on the return. - File jointly, if you’re married.

Welcome to Income, Expats, & Taxes! I am Coach A.W, In this community we will share how to make income and use tax planning and strategies to become a full or part time expat. I am a 27-year certified coach that share tax planning and strategies to help you keep more of the money you make. Since we are coming upon tax season, I will be sharing tips you can do now to start building your future expat or first business life. Introduce yourself in the community and share where you are or will be living your expat life, and what are some of the tax questions you have about being an expat or first-time business owner. I'll go first, "I will be living my expat life between the African Continent and Southeast Asia. For years my biggest fear as first-time business was, how do I pay my tax and keep more of my money? As an expat it was, who would be able to answer my unique tax question if I was thousands of miles from home." That's why I created, Income, Expats, & Taxes community. YOUR TURN!