Coping with the Cost of Care: Often-Overlooked Tax Deductions and Tips for Seniors and Their Families File a Tax Extension Top Tax Deductions for Freelance Tutors How to Check Your Tax Refund Status Tax Deductions for Independent Business Consultants...
Besides the 1040-SR form, seniors have special options available to file and pay their taxes. Here's a guide to tax counseling for the elderly.
1040-SRU.S. Income Tax Return for SeniorsForm 1040-SR is for taxpayers who are 65 or older (specifically, born before Jan. 2, 1960). The main difference between this form and Form 1040 is that the 1040-SR is printed in a larger font and includes, at the bottom of the form, a cha...
Interest, dividends or original issue discounts (1099-INT/1099-DIV/1099-OID) that don’t require filing a Schedule B IRS standard deduction Earned Income Tax Credit (EITC) Child Tax Credit (CTC) Student loan interest deduction Taxable qualified retirement plan distributions Credits, deductions an...
An additional 3.8% surtax is levied against investment income for high-income taxpayers. Post navigation Ask the Adviser: What tax consequences should I consider before retiring in Pennsylvania? Ask the Adviser: How Can I Guide My Grandchildren to Make Smart Money Choices?
"The Gambler's Guide to Taxes: How to Keep More of What You Win" Tax Reading Room You also might enjoy these other tax tips from some of my tax-writing colleagues: J.K. Lasser 2025 Taxes Tax Savvy for Small Business 2025 Taxes, Accounting, and Bookkeeping3-in-1 Bible 2025 ~...
And theTax Counseling for the Elderly (TCE)program offered by AARP, offers free tax help for all taxpayers, particularly those who are 60 and older, specializing in questions about pensions and retirement-related issues unique to seniors.
(4) See Publication 17, Your Federal Income Tax (For Individuals), Publication 524, Credit for the Elderly or the Disabled, or Publication 554, Tax Guide for Seniors, for detailed information. 21.6.3.4.1.5 (10-01-2024) Form 8863, Education Credits (1) Taxpayers may claim an education cred...
There are relatively minor changes for the 2012 tax year. Certain seniors with self-employment income may want to make a CPP election on Schedule 8.• Read Article United States Tax Update for 2012 Author: Brad Howland First Posted: Jan. 21, 2013 The American Taxpayer Relief Act of 2012,...
Housing accounts for more than a third of many seniors’ spending. Here’s how to save. Maryalene LaPonsieJan. 21, 2025 Reduce Your Housing Costs in Retirement Here's what to consider when taking unemployment benefits and Social Security payments at the same time. Rachel HartmanJan. 21, 202...