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Additional medical deductions. Free tax filing assistance ... additional $1,550 per person over 65. Single filers and heads of ... gains exemption for selling their home, known as the over-55 rule ...
AARP Foundation Tax-Aide provides tax assistance to anyone free of charge, according to an announcement on the organization’s website. Tax-Aide’s focus is on taxpayers who are over 50 and have ...
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 ...
The veteran's pension is a tax-free benefit not subject to federal income tax. Regarding state tax, the veteran or beneficiary must check with the taxing authority in his or her state of residence to determine if the pension is subject to state income tax.
It doesn't take a high income to land in a high tax bracket. A single adult earning $48,000 finds themselves paying 22% on their top-taxed dollars. Learn More: American Opportunity Tax Credit ...
In 1983, the Texas Veterans Housing Assistance Program was created to offer up to $417,000 in home loan financing to Texas veterans. In 1986, the Texas Veterans Home Improvement Program was introduced to offer Texas veterans up to $50,000 in home improvement loans. Interest rates for VLB housing and home improvement loans are posted online weekly.
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 ...
A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists and select surviving spouses (provided they do not remarry) and can be used to purchase single-family homes, condominiums, multi-unit properties, manufactured homes and ...
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