Page 14 THE REVERE ADVOCATE – FRIDAY, JULY 18, 2025 ANNOUNCEMENT | FROM Page 2 THE NEW BONUS TAX DEDUCTION W ithin the most recent legislation signed off on by President Trump on July 4, 2025 was a tax provision providing a $6,000 bonus deduction for anyone age 65 or older. For a married couple, this bonus deduction can be worth $12,000 if both spouses are age 65 or older. This tax deduction will be able to be taken on your 2025 federal income tax return. This new tax deduction is in lieu of the “no tax on social security benefi ts” proposal. There are income limits in order to take advantage of this new deduction. In order to obtain 100% of this deduction, your modified adjusted gross income (MAGI) cannot exceed $75,000 if you are fi ling as single. It cannot exceed $150,000 if you are married fi ling jointly. Once your MAGI exceeds these thresholds, the deduction begins to be phased out. Furthermore, this deduction will only apply for calendar years 2025 through 2028. This is a deduction in addition to the standard deduction of $17,750 for a single person, ($15,750 standard deduction plus $2,000 extra for being age 65 or older), $25,625 for a head of household ($23,625 standard deduction plus $2,000 extra for being age 65 or older) and $33,200 for a married couple ($31,500 standard deduction plus $3,200 extra for both spouses being age 65 or older). This new bonus deduction is available to taxpayers whether the standard deduction is taken or itemized deductions are claimed. The value of the bonus deduction is reduced by 6% of the MAGI above the inSquare at Dehon Street and Centennial Avenue has been renovated with additional lighting and benches. Flaherty Square Park is scheduled to be renovated and Fitzhenry Square Park is currently on line to be renovated into a permanent dog park. These improvements will be completed this calendar year. My work with local civic and come limits. A single individual age 65 with MAGI of $100,000 will only be able to claim a bonus deduction of $4,500. He or she would lose $1,500 of the tax deduction ($100,000-75,000) x 6% = $1,500. The Tax Policy Institute estimated that not taxing social security benefi ts at all would cost the federal government $1.5 trillion over a 10 year period. This new tax deduction will serve to help lower income taxpayers than would a no tax on social security benefi ts tax provision if it were passed. A single taxpayer begins to pay taxes on social security benefi ts once MAGI exceeds $25,000. For married couples, that fi gure is $32,000. The no tax on social security benefits was just too good to be true. Up to 85% of social security benefi ts are taxable once your income exceeds a certain amount. For a single taxpayer receiving $36,000 in social security benefi ts with 85% being subject to tax due to the income threshold being exceeded, if in a 22% tax bracket, that would cost $6,732 in federal income taxes. The $6,000 deduction will now save $1,320 in federal income taxes, still resulting in $5,512 in federal income taxes paid on the social security benefi ts. Joseph D. Cataldo is an Estate Planning/Elder Law Attorney, Certifi ed Public Accountant, Certifi ed Financial Planner, AICPA Personal Financial Specialist and holds a Master’s Degree in Taxation. Veteran organizations over the years has been rewarding and fulfi lling. I am proud to continue my affi liations with these hard working groups. I have been honored by the Revere Elks, The Neighborhood Developers, WEE, The Revere Community Committee of Ward 2, The Revere Chamber of Commerce, American Legion, and the Jewish War Veterans as the Man of the Year. In 2018 I was proud to work TECH STUDENTS | FROM Page 8 “Mr. Standley and I are very proud of our students for turning this event into a memorable grand fi nale to both our unit of study and the academic year,” said Laurie Leone. “I’m thankful for this opportunity and so proud of how the students responded. They realHELPING | FROM Page 9 framing with a built-in loft for extra storage. Students then designed and built Gambrel-style roof trusses, and a custom-made double door with a ramp leading into the shed. “Doing this job was an amazing experience for us. I was so happy and proud to do something for this amazing community,” said student Yeudiel Zelaya, of Chelsea. Students who participated in the project are Nathan Blauvelt, of Stoneham; Pedro Luis Rodriguez, of Revere; Isaac Fernandes, of Malden; Makayla Bellavance, of North Reading; Matthew Case, of Revere; with a private developer to bring 30 aff ordable housing units with Veterans preference to Shirley Avenue. Shirley Avenue is now touted as the best developed and the most progressive part of our City. There is continuous upgrading of storefronts and business signs on Shirley Avenue and is ongoing with provided grant funding. I was born in Ward 2, I grew up in Ward 2, and I have raised my family in Ward 2. As you can see, my heart and soul belongs to Ward 2 and the City of Revere. As a City Councillor, my number one priority is the welfare of Revere and its residents. I continuously keep communications open with the residents of Ward 2. I am retired from the Commonwealth of Massachusetts after 33 years and from the Massachusetts National Guard and Army Reserves after 27 years of military service. I was married to the late Roly came together during both the performance and the reading of the book. It was fun to see which scenes of the book resonated with them,” said Ryan Standley. “Hopefully this assignment will be a lasting memory. I’ll never forget the shocked looks on their faces on the day Ms. Leone and I handed out the books. One student said, ‘Mr. Standley, this writer has the same name as you!’” Antonio Gasbaro, of Woburn; Shane Comeiro, of Woburn; Kimberly Juarez, of Chelsea; Bryan Aguirre Lemus, of Revere; Samuel Villanueva Portillo, of Chelsea; Cory Pleitez, of Chelsea; Yoselin Martinez Santamaria, of Chelsea; Destiny Faith Shaw, of Winthrop; Joseph Kohanski, of Saugus; Vayron Orellana, of Malden; Lindsay Dabrillo, of North Reading; Daniel Escobar, of Revere; Yeudiel Zelaya, of Chelsea, and Kevin Rodriguez, of Malden. “My new shed has helped me so much, giving me more storage space, which was much needed,” said Mattuchio. “I am so grateful for Northeast Metro Tech and its students for building me this incredichelle (Gaber) for 52 years prior to her passing away in 2022. We have one son, Seth, who is married to Jeannemarie (Mancuso), and two granddaughters, Olivia Rose and Charleigh Jaye, all of whom still reside in Ward 2. I have pulled nomination papers so that my name will appear on the ballot. I humbly request that you consider signing my papers. Please let me know if you wish to sign them and I will meet you at your convenience. Thank you for your time and consideration. I respectfully request your vote on Election Day, Tuesday, November 4, 2025. If I can be of further assistance to you or answer any questions you may have, please don’t hesitate to contact me at 781-289-7031 or by email at ira_novoselsky@ yahoo.com. It is my hope to continue together, with you, to make Ward 2 a better place to live. “I was excited to learn we have a nationally published author right here in our midst at Northeast Metro Tech, and I knew our talented faculty could turn that opportunity into something really special for students,” said Superintendent DiBarri. “I want to thank Laurie Leone and Ryan Standley for creating this truly outstanding learning opportunity for students.” ble shed. Seeing the kids every day and watching them with the rescue dogs was a fun bonus!” “This was a rewarding project that involved both junior and senior students, and which will benefi t the animals at Eddie’s Ranch for years to come,” said Superintendent DiBarri. “I am proud of our students for their fi ne craftsmanship, but also for their caring and community spirit. This is exactly the type of community support and involvement that we love to see from our students here at Northeast Metro Tech.” To learn more about Eddie’s Ranch, visit: https://eddieonwheels.com/. Like us on Facebook advocate newspaper Facebook.com/Advocate.news.ma
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