Seniors have access to several tax benefits that can potentially lower their taxable income. The standard deduction for ...

Taylor Tepper covered banking, investing and pretty much everything else in personal finance for more than a decade, with his work appearing in the New York Times, Fortune and MONEY magazine, as ...

Being older has its benefits. Here are two items exclusively for older adults that can help them save on taxes.

Medical expenses are what can be deducted, so the more medical support a senior needs, the more expenses may be eligible for deduction. Because tax laws are complicated and every health ...

The extra deduction per qualifying spouse will increase ... Enter your email in the box and click Sign Me Up. As the senior tax editor at Kiplinger.com, Kelley R. Taylor simplifies federal and ...

The Bonus Tax Relief for America's Seniors Act would increase the additional bonus IRS deduction for seniors age 65 and over from $1,950 to $5,000 for single filers, and from $3,100 to $10,000 for ...

This deduction has been extended several times ... consulting with a tax professional can pay off in the long run. Angelica Leicht is senior editor for Managing Your Money, where she writes ...

The IRS typically requires you to file a tax return when your gross income exceeds the Standard Deduction for your filing status[1]. For tax year 2022, unmarried seniors will typically need to ...

Seniors have access to several tax benefits that can potentially lower their taxable income. The standard deduction for taxpayers over 65 is higher, so be sure to claim it if you don't itemize ...