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

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   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. 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 ...

4. Open an IRA before the tax deadline to save on taxes - AOL

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   As mentioned, the contribution limit for 2023 is $6,500, or $7,500 for those over age 50. For 2024, the contribution limit increases to $7,000, or $8,000 for those over age 50. ... Comparing tax ...

5. Seniors and Taxes: Is There an End in Sight? - AOL

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   People 50 or older can make “catch-up” contributions to their retirement accounts: The 2023 contribution limit for a traditional or Roth IRA is $6,500, up from $6,000 in 2022, but if you’re ...

6. The Best Tax Deductions and Tax Breaks for 2024-2025 - AOL

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   16. IRA Contributions or 401(k) Contributions. Although IRS rules don’t allow deductions for Roth IRA contributions, you might be able to claim the amount that you put in a traditional IRA or ...

7. How all 50 states tax retirement income: A comprehensive list ...

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   The state doesn’t offer any deductions to its seniors, but the flat tax is expected to reduce every year until it reaches 3.99% in 2027. ⭐ Quick facts: North Carolina. Social Security: Not taxable

8. 20 Valuable Tax Breaks for Seniors - AOL

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   The so-called golden years can be financially challenging, but state and federal tax breaks can provide some silver linings. Find out what's available. 20 Valuable Tax Breaks for Seniors

9. 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 ...