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2. 8 Tax Breaks Retirees Can Prepare to Use for 2024 - AOL

   www.aol.com/finance/8-tax-breaks-retirees-2024...

   The post Common Tax Breaks for Retirees appeared first on SmartReads by SmartAsset. ... for the 2024 tax year, the standard deduction for a single taxpayer stands at $14,600 and $29,200 for joint ...

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

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

   For the 2024 tax year, if you’re 50 or older, you can contribute an additional $7,500 to an eligible employee retirement account, for a total of $30,500 per year. Eligible accounts include: 401(k)s

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

   www.aol.com/finance/states-that-tax-retirement...

   Michigan’s flat state income tax rate rose for 2024 to 4.25%, and the law surrounding the state’s pension deduction also changed, as part of a phaseout of the state’s three-tier retirement ...

5. States that tax Social Security benefits — including changes ...

   www.aol.com/finance/states-that-tax-social...

   Nine states require retirees to pay income tax on their Social Security benefits, with Kansas the most recent state to remove that tax burden from retirees in June 2024. ... 2024 tax year — 35% ...

6. 4 year-end tax planning strategies to save money in 2024 and ...

   www.aol.com/finance/4-end-tax-planning...

   These four year-end tax strategies can help trim your taxes for 2024 and beyond. ... Typically, you have until Dec. 31 to contribute to your 401(k) or similar tax-advantaged retirement plan, such ...

7. Roth vs. Traditional, 401(k) vs. IRA: The Best Account To Use ...

   www.aol.com/finance/roth-vs-traditional-401-k...

   (In 2024, the modified adjusted gross income limit is $146,000 for single filers and $230,000 for joint filers.) If this is the case, a traditional IRA may be a good option. ... “It won’t ...