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The One Big Beautiful Bill Act did not change the rules for taxing Social Security benefits, but it did create a new deduction for seniors that could help reduce their tax burden.
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A new tiered tax rate on the endowments of wealthy colleges and universities could affect spending on financial aid, research, and other college programs.
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While life insurance might play a central role after the death of a financial provider, Social Security could also offer another important source of income for survivors.
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It’s a good idea to regularly review beneficiary designations to be sure they are complete and reflect current wishes.
