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These 11 tax deductions are just a few examples that could help senior citizens put more of their income toward enjoying their retirement. Of course, everyone’s tax situation is unique.
For example, Texas offers a wide range of property tax exemptions to residents ages 65 and older, including an exemption from school district and county taxes and an additional $10,000 residence ...
Many medical expenses can be tax-deductible, but the rules have always been complicated: To qualify for this tax break, you need to itemize your deductions, and then you can only deduct the ...
The standard deduction reduces a taxpayer’s taxable income, ensuring that only households with income above certain thresholds will owe income tax. The standard deduction amounts for 2023 are ...
Use your bigger standard deduction: If you’re 65 or older and you don’t itemize deductions, you are entitled to a higher standard deduction. A single filer over 65 gets an extra $1,750 ...
The official tax filing day in the U.S. is Tuesday, April 18 this year. And if you're trying to qualify for every deduction you can, you need to know what's available to you before you drop your ...