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Podcast: Retire With Style
Episode: Episode 202: OBBBA and You, Part 2: The Deductions That Could Change Your Tax Bill
Description: The conversation explores key tax topics, including below-the-line deductions, charitable contributions, mortgage insurance deductions, gambling taxes, and the taxation of Social Security benefits. It also discusses potential changes to Affordable Care Act subsidies and highlights the importance of proactive tax planning to navigate these complexities.
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Takeaways
The state and local tax deduction has seen significant changes.
Charitable contributions now have a new floor for deductions.
Mortgage insurance premiums are deductible under certain conditions.
Gambling winnings are taxed differently than before.
Social Security benefits remain taxable under existing rules.
The Affordable Care Act subsidies may c...