Pittsburgh, PA – Fragasso Financial Advisors (“Fragasso”) today announced the release of a new educational blog titled “Understanding the New Enhanced Senior Tax Deduction: What Retirees Need to Know.” The web article and video summary provides retirees and those nearing retirement with a practical explanation of the upcoming deduction changes taking effect in 2025, along with guidance on how these updates may influence long-term financial planning.
Overview of the New Senior Tax Deduction
Beginning in tax year 2025 and continuing through 2028, taxpayers aged 65 and older may qualify for an enhanced deduction in addition to the standard deduction. While the specific dollar amounts and thresholds are detailed in Fragasso’s blog, the firm notes that the updated rules could offer expanded opportunities to reduce taxable income.
The new deduction includes:
- A supplemental amount available to eligible individuals age 65+
- An increased combined benefit for married couples when both spouses meet the age requirement
- Income-based phase-outs that apply differently depending on filing status
Readers are encouraged to review the full article for exact amounts and eligibility ranges.
Why These Changes Matter for Retirees
Fragasso emphasizes that retirees should understand how the enhanced deduction intersects with broader tax planning. Key considerations include:
- How modified adjusted gross income (MAGI) affects eligibility through phase-out ranges
- Whether Roth conversions or capital-gain strategies influence access to the deduction
- How the deduction interacts with Social Security benefits, required distributions, and household income planning
The firm underscores that the new rules present opportunities but also require careful coordination with tax and financial advisors. Investors should always consult with their tax professionals in situations like these.
Planning Support for High-Net-Worth Individuals and Retirees
As a fiduciary serving high-net-worth individuals, business owners, and executives, Fragasso offers a comprehensive planning framework that integrates:
- Retirement income planning
- Tax-aware investment management
- Estate and legacy planning
- Executive compensation and business succession strategies
- Coordinated planning with tax and legal professionals
This multi-disciplinary approach allows retirees to navigate new legislation with confidence and clarity.
Helping Retirees Gauge Their Readiness
To support individuals evaluating whether they are on track for retirement, and how new tax rules may affect their long-term income, Fragasso encourages prospective retirees to complete its online wealth-strategy quiz. The assessment helps users identify planning gaps and prepares them for deeper conversations about taxes, savings, and future financial goals.
Investment advice offered by investment advisor representatives through Fragasso Financial Advisors, a registered investment advisor.
About Fragasso Financial Advisors, Inc.
Fragasso Financial Advisors, Inc. operates as an independent, primarily fee-based, employee-owned financial advisory establishment. Since its inception in 1972, the firm has been providing personalized financial planning and investment management services to individuals, non-profit organizations, and businesses. With a focus on long-term relationships and a commitment to providing an exceptional client experience, Fragasso Financial Advisors is a fiduciary, acting in their clients’ best interests with every decision.
Media Contact
Name
Fragasso Financial Advisors
Contact name
Marsha Posset
Contact phone
412-227-3206
Contact address
3402 Washington Road, Suite 301
City
McMurray
State
PA
Zip
15317
Country
United States
Url
https://www.fragassoadvisors.com/
