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2. Retirees Often Overlook These 11 Tax Deductions - AOL

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   However, some seniors may not be aware that this deduction is increased for those age 65 or older. For tax year 2023, the addition to the standard deduction for individuals 65 and older is $1,850 ...

3. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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   For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older OR blind are: $1,850 for single or head of household. $1,500 for married taxpayers (per qualifying ...

4. Trump-Era Tax Cuts Are Expiring: How Changes Will Impact Retirees

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   For seniors currently benefiting from this deduction, the limit swells to $12.92 million in 2023. In 2026, the estate tax deduction will either return to the 2017 amount or be amended ...

5. 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.

6. Here are the biggest retirement changes coming in 2023 - AOL

   www.aol.com/finance/biggest-retirement-changes...

   For 2023, IRA deductions for singles covered by a retirement plan at work aren't allowed the deduction after their modified adjusted gross income (MAGI) hits $83,000, versus $78,000 in 2022.

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

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

   The good news is that Montana residents over age 65 can take a new standard $5,500 deduction from their federal taxable income for the 2024 tax year. ... All retirees with lower incomes are exempt ...

8. Trump-Era Tax Cuts Are Expiring: 7 Ways This Could Impact ...

   www.aol.com/trump-era-tax-cuts-expiring...

   At the end of 2025, significant tax cuts are expiring that were passed under the Trump administration through the Tax Cuts and Jobs Act (TCJA), often called the Trump tax cuts. Unless a new law is...

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

   www.aol.com/im-senior-ever-stop-filing-130049547...

   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 ...