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

   www.aol.com/finance/tax-breaks-after-50-you...

   Here are additional 2024 standard deductions for those over 65 showing the IRS’s tax inflation adjustments: Joint filers and surviving spouses can deduct an additional $1,550 per person over 65.

3. Forgot to Make a 2024 IRA Contribution? You Still Have Time.

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   The deadline for 2024 IRA contributions. The IRS lets you make 2024 IRA contributions until the tax deadline -- April 15, 2025. This is the deadline even if you request an extension to file your ...

4. 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 ...

5. 2 Important IRA Changes Coming in 2025 That Investors ... - AOL

   www.aol.com/2-important-ira-changes-coming...

   Tax Filing Status. 2024 MAGI. 2025 MAGI. Traditional IRA Deduction. Single individuals covered by a workplace retirement plan. $77,000 or less. $79,000 or less

6. Roth IRA vs. traditional IRA: Which is better for you? - AOL

   www.aol.com/finance/roth-ira-vs-traditional-ira...

   The annual contribution limits are the same as a traditional IRA: $7,000 for those under 50 and $8,000 for those over 50 in 2024. However, there is no timestamp for when you must make those ...

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

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   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 ...

8. IRA taxes: Key rules to know and how much you can ... - AOL

   www.aol.com/finance/ira-taxes-key-rules-know...

   The short story: A traditional IRA gets you a tax break today, but you pay taxes when you withdraw any money. Meanwhile, a Roth IRA allows you to take tax-free distributions in the future in ...

9. Roth IRA Tax Guide For 2024 - AOL

   www.aol.com/finance/roth-ira-tax-guide-2024...

   Understanding Roth IRA Contribution Taxes. ... this can grow to over $1 million tax-free dollars by age 65. ... tax situation and retirement goals when deciding on a Roth or traditional IRA. Tips ...