- Mercer Advisors

How Could the One Big Beautiful Bill Impact Taxes for Retirees?

The One Big Beautiful Bill (OBBB) includes several tax changes that directly affect retirees, especially how their Social Security is taxed, how much of their income is shielded by deductions, and how much they can deduct in state and local taxes (SALT). While some speculate that tax deductions could cause further deficit and Social Security Trust fund issues in the future, here’s what you should know today. Q: What’s this new $6,000 “senior deduction”? The Senate [...]

Rebecca Mack2025-07-30T12:45:27+00:00July 30, 2025|Government, Tax Planning, Taxes|

What Retirees Need to Know About the New “One Big Beautiful Bill”

President Trump’s newly passed “One Big Beautiful Bill” (OBBB) is making headlines, and retirees might want to pay close attention. Aimed at expanding the 2017 Tax Cuts and Jobs Act (TCJA), this sweeping legislation includes a mix of tax breaks and potential pitfalls that could impact seniors for years to come. Potential Benefits of the “One Big Beautiful Bill” Proposal A $6,000 Senior Bonus Deduction One of the most direct benefits for retirees is a proposed [...]

Rebecca Mack2025-07-22T16:38:42+00:00July 22, 2025|Financial Planning, Government|

Why Tariffs (and Even the Threat of Them) Swing the Market

You’ve probably heard the word “tariff” tossed around in financial headlines lately—but what does it really mean for your investments? At first glance, tariffs might seem like just another policy tool or political talking point. But in reality, they can have significant and immediate consequences for the stock market, corporate profits, global supply chains—and yes, even your grocery bill. Whether they're newly introduced, lifted, or merely hinted at, tariffs can cause sharp swings in the market [...]

Rebecca Mack2025-05-14T04:57:24+00:00May 14, 2025|Economy, Government, Stock Market|

What Retirees Should Know About Tariffs

As a new administration weighs its stance on tariffs, it’s worth considering how these policies may affect retirees and their financial plans. Tariffs, often described as taxes on imported goods, are actually taxes imposed on U.S. companies importing foreign products. These taxes can ripple through the economy, impacting consumer prices, including essentials that retirees rely on, such as groceries, healthcare, and transportation. Here’s what retirees should know about tariffs, how they may affect everyday costs, and [...]

Rebecca Mack2025-04-28T15:39:26+00:00April 28, 2025|Economy, Government|

Covering New Tax Proposals From the “Project 2025” Agenda

Project 2025, a policy blueprint developed by the Heritage Foundation, has stirred significant attention due to its controversial policy and tax proposals. This 900-page mandate from the conservative think tank outlines profound changes that could fundamentally alter the federal government, including the tax system. Here's what you need to know about Project 2025 and its potential impact on taxes. What is Project 2025? Project 2025 is a comprehensive plan designed for a future Republican administration, with [...]

Rebecca Mack2024-08-23T18:30:53+00:00August 23, 2024|Government, Taxes|

The National Debt Ceiling and How it Could Affect You

What is the Debt Ceiling? The national debt ceiling is the amount of money that the United States Government is allowed to borrow to pay for its expenses. These expenses include things like Social Security and Medicare benefits, tax refunds, military salaries, and interest payments on outstanding debt the nation may have. The United States runs a budget deficit, meaning that the nation spends more than it earns through taxes and other means. To make up [...]

Rebecca Mack2023-07-07T21:35:43+00:00July 7, 2023|Government|

Secure Act 2.0 Passes Congress: What You Need to Know

Exciting news! The US Congress has approved the SECURE Act 2.0 under an omnibus act, which involves a series of alterations to the retirement system. These modifications are an extension of the Secure Act of 2019 and are contained in the $1.7 trillion omnibus bill, which is anticipated to get signed into law by President Joe Biden. The SECURE Act 2.0 policies have been proposed to broaden the scope of retirement benefits and make it easier [...]

Rebecca Mack2023-02-17T19:17:05+00:00January 5, 2023|Government, SECURE Act|

Is Our Government Anticipating Inflation?

The Consumer-Price Index (CPI) rose to 4.2% in April as compared to last year.[1] We could see higher prices when it comes to travel, food, cars, and other common goods and services. High inflation can hurt retirees who are living off their savings, especially when we have near-zero interest rates. We already see bigger Social Security Cost of Living Adjustments predictions to keep pace with inflation, conversations about how to protect money from inflation among investors, [...]

lonebeacon2021-06-15T01:35:22+00:00June 15, 2021|Economy, Government|