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Kiplinger
Kiplinger
Business
Ken Nuss

I'm an Annuities Expert: Here Are Two Ways to Use Annuities to Benefit From the OBBB

Social Security Ken Nuss Income Tax IRS QLAC SEC
A glowing number 2 in pink and blue against a black background.

The One Big Beautiful Bill (OBBB) gives most people 65 and older a new deduction on their federal income taxes starting in 2025.

But to get the full or partial amount, you can't exceed the income limits. For some older adults, it can thus make sense to reduce their taxable income to get under the limit.

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