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2. Retirees Often Overlook These 11 Tax Deductions - AOL

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   Senior citizens age 70.5 and over who own an IRA can take advantage of tax-free qualified charitable distributions. They can transfer up to $100,000 per year, counting toward the required minimum ...

3. Tax breaks after 50 you might not know about - AOL

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   Tax Counseling for the Elderly, Benefits.gov. Accessed July 7, 2024. IRS provides tax inflation adjustments for tax year 2024, IRS. Accessed July 7, 2024. Here’s who needs to file a tax return ...

4. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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   A married couple of two 65+ adults would take a total deduction of $27,700 (standard deduction) plus $1,500 for one 65+ adult plus $1,500 for second 65+ adult — a total of $30,700.

5. How all 50 states tax retirement income: A ... - AOL

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   Retirement income is subject to North Carolina’s 4.5% state income tax rate in 2024. The state doesn’t offer any deductions to its seniors, but the flat tax is expected to reduce every year ...

6. States that tax Social Security benefits — including changes ...

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   Seniors living in Vermont can expect to pay between 3.35% and 8.75% in state income tax, but whether your Social Security benefits are excluded depends on your filing status and adjusted gross income:

7. The Best Tax Deductions and Tax Breaks for 2024-2025 - AOL

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   If you live in a state with no income tax, consider deducting state sales tax and local sales tax that you paid. 4. State, Local and Foreign Taxes. You can claim certain taxes as itemized ...