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

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

   4. Free tax filing assistance. The IRS offers free assistance and basic tax return preparation to anyone ages 60 and older through the Tax Counseling for the Elderly program. This program is ...

3. 10 tax breaks for people over 50 - AOL

   www.aol.com/finance/2016-12-12-10-tax-breaks-for...

   Once you turn 50, and especially after age 65, you can qualify for extra tax breaks. Older people get a bigger standard deduction, and they can earn more before they have to file a tax return at all.

4. Retirees Often Overlook These 11 Tax Deductions - AOL

   www.aol.com/retirees-often-overlook-11-tax...

   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. 10 Tax Breaks Every Middle-Class Family Should Take ... - AOL

   www.aol.com/10-tax-breaks-every-middle-180044100...

   “The Tax Cuts and Jobs Act of 2017 doubled the Child Tax Credit from $1,000 to $2,000,” explained Nicolette Davicino, financial advisor at Armstrong, Fleming & Moore, Inc. “In addition, it ...

6. Above-the-line deduction - Wikipedia

   en.wikipedia.org/wiki/Above-the-line_deduction

   Below-the-line deductions are subtracted from a taxpayer's adjusted gross income. Above-the-line deductions may also be subject to income-sensitive phaseouts or limitations, e.g., MAGI limits on the tuition and fees deduction. Certain below the line deductions are also phased out for high income taxpayers pursuant to Internal Revenue Code ...

7. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   This facilitated amendments to 2011 tax returns to claim a casualty tax deduction. [ 4 ] Gambling losses, but only to the extent of gambling income (For example, a person who wins $1,000 in various gambling activities during the tax year and loses $800 in other gambling activities can deduct the $800 in losses, resulting in net gambling income ...

8. Taxes 2022: Tax breaks for filers over 50 - AOL

   www.aol.com/finance/taxes-2022-tax-breaks-filers...

   The catch-up is an additional $1,000 if you reach 55 during the year. ... you get an extra $1,700 standard deduction for tax year 2021 and an extra $1,750 for tax year 2022. ... Taxes 2022: Tax ...

9. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

   www.aol.com/finance/10-tax-deductions-know-2023...

   A tax credit, on the other hand, reduces the tax you owe — every $1 of tax credit reduces your tax bill by by $1. If you owe $10,000 in taxes and qualify for a $2,500 tax credit, your tax bill ...