The OBBB added some tax benefits for Senior Citizens. However, most changes are different than what was discussed in the lead-up to the 2024 election. Find out what benefits were made into law, the effective date, and how you may be able to structure your tax situation to take the maximum advantage of these benefits. Our discussion will be geared to taxpayers 60 or older and will review what you need to know for your 2025 return preparation, as well as planning for 2026 and beyond. 

Joe Hinske is the managing partner of Newton & Hinske CPAs in Mount Pleasant SC. He is a CPA and has a Master of Accountancy degree from the College of Charleston and a Bachelor of Science in Business Administration from Charleston Southern University. He is a past president of the Charleston Estate Planning Council (2015-2016), was an adjunct professor of taxation in the MBA program at Charleston Southern University and former Treasurer of the Mount Pleasant Chamber of Commerce, where he was awarded as the very first Member of the Year. He is a past winner of Charleston “40 under 40 award”. He also holds the Certified Specialist in Estate Planning designation from the National Institute for Excellence in Professional Education and is in the process of completing the AICPA certificate in Estate Planning. Both designations cover all fiduciary taxation issues and require extensive education classes and graded exams. He has been designated as an expert in several fiduciary litigation cases and has served as a trustee.