Retirees can benefit from Trump’s Big Beautiful Bill with smart tax strategies like updating withholding, Roth conversions and optimizing charitable giving.

Trump's flagship tax and spending law is expected to have a material (and adverse) impact on America's leading retirement program.

Roughly 100,000 Wyoming retirees are expected to benefit from a new federal deduction that eliminates taxes on most Social Security income.

Roughly 4 million Texas retirees are expected to benefit from a new federal deduction that eliminates taxes on most Social Security income starting in 2026. The One Big Beautiful Bill could

The Trump bill — which was enacted in early July — introduces an additional tax deduction for taxpayers who are 65 or older. The deduction could be up to $6,000 for an individual tax filer and up to $12,000 for a married couple if both spouses qualify.

The "big beautiful bill" includes a $6,000 additional deduction for certain older Americans ages 65 and over. However, the legislation does not end federal income taxes on Social Security benefits.

Roughly 1 million South Carolina retirees are expected to benefit from a new federal deduction that exempts most Social Security income from taxes starting in 2026. The One Big Beautiful Bill

In order to qualify for the maximum Social Security benefit, you'll also have to earn the maximum for each of the 35 years of earnings that are used to calculate your benefits. That doesn't mean earning umpteen kazillion bajillion dollars each year, though.