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If you’re 65 or older, you may be eligible for an additional $6,000 deduction that could lower your tax bill and stretch your retirement income further. But the media headlines are often misleading—this isn’t a simple “free money” giveaway. In this episode, retirement planning expert Leibel Sternbach explains who qualifies, how it really works, and the strategies you can use to maximize the benefit.
By Leibel Sternbach, EA & Freddie BellIf you’re 65 or older, you may be eligible for an additional $6,000 deduction that could lower your tax bill and stretch your retirement income further. But the media headlines are often misleading—this isn’t a simple “free money” giveaway. In this episode, retirement planning expert Leibel Sternbach explains who qualifies, how it really works, and the strategies you can use to maximize the benefit.