The One Big Beautiful Bill Act (OBBBA) provides an annual deduction of up to $10,000 for interest paid on qualifying new auto loans, effective for tax years 2025 through 2028.

Unlike retirement accounts, there are no federal contribution limits for variable annuities, and the investment gains won’t be taxed until they are withdrawn.

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.

Although U.S. stocks have provided a higher return over the past 20 years, foreign stocks outperformed in seven of those years, including 2025.