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

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   Additional standard deductions. Once you or your spouse turn 65, you can qualify for an additional standard deduction on top of the basic standard deduction you’d normally receive — or $14,600 ...

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

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   The standard deduction amounts for 2023 are $27,700 if you’re married filing jointly (an increase of $1,800 from 2022), $20,800 for heads of households (a $1,400 gain) and $13,850 for single ...

4. Taxes 2023: What's the standard deduction for people over 65?

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   However, if you are 65 or older on the last day of the year and don’t itemize deductions (or are blind), you can claim an additional standard deduction. The IRS considers an individual to be 65 ...

5. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

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   If you itemize deductions, you can subtract cash and noncash contributions to 503(c)(3) organizations. ... Social Security, unemployment benefits, alimony, child support or pay for work done as an ...

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

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   But if you turn 55 during the tax year, you can write off up to $20,000 in Social Security benefits. As of 2022, retirees ages 65 and older in the Centennial State can write off all of their ...

7. Here Are Two Major Social Security Changes Retirees Need to ...

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   All current recipients will receive a boost to their monthly benefit thanks to the Social Security cost-of-living adjustment (COLA). ... both of you split the 12.4% Social Security tax, paying 6.2 ...

8. Do I Have to File a Tax Return If I Only Receive Social Security?

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   Roughly 40% of people who receive Social Security end up paying federal income taxes on their benefits. Whether you owe any taxes on your Social Security will depend on the amount of other income ...

9. IRS sets higher standard deduction, new tax brackets for 2025

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   The standard deduction will go up to $15,000 for 2025 tax returns — up $400 from 2024 − for single taxpayers and married people filing separately.. The standard deduction climbs to $30,000 − ...