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2. Retirees Often Overlook These 11 Tax Deductions - AOL

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   Traditional IRA Contributions at Any Age ... The standard deduction provides individuals with a certain threshold below which income is not taxed. ... For tax year 2023, the addition to the ...

3. 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 ...

4. Don't Forget: Roth IRA Income Limits For 2023 - AOL

   www.aol.com/finance/roth-ira-income-limits-2023...

   A Roth individual retirement account (IRA) can be a helpful tool for retirement planning. These tax-advantaged accounts offer a way to save money in addition to what you might be contributing to a ...

5. 8 Tax Breaks Retirees Can Prepare to Use for 2024 - AOL

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

   The tax-filing threshold is a minimum limit of gross income that an individual must reach before having to file a tax return. ... in 2023. The threshold is $12,950 and $25,900, respectively ...

6. What Is the Standard Deduction Amount for 2022-2023 and When ...

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   Here are the standard deductions for the 2022 and 2023 tax years: Single: $12,950 for 2022, $13,850 for 2023. ... If you itemize deductions, you lower your taxable income from a list of qualifying ...

7. IRS announces new tax brackets for 2024. What does that mean ...

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   The new income thresholds have been bumped by ... up $1,500 from $27,700 for the 2023 tax year. The standard deduction for single taxpayers will be, $14,600, an increase from $13,850 in 2023 ...