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2. Caring for a Senior? Here's How to Get the Highest Memory ...

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   To calculate your total medical expense tax deduction, follow these steps: Add up all qualifying medical expenses (including memory care) paid for the tax year. Subtract 7.5% of your AGI from your ...

3. Are Assistant Living Expenses Tax-Deductible? - AOL

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   However, the tax deduction for someone that age is limited to $1,690. And, again, you can only deduct the amount in excess of 7.5% of your adjusted gross income.

4. Retirees Often Overlook These 11 Tax Deductions - AOL

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   2. Tax-Deductible HSA Contributions. Senior citizens can also benefit from a tax deduction for health savings account contributions. Deposits made directly to an HSA can be claimed, but keep in ...

5. 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 ...

6. The Best Tax Deductions and Tax Breaks for 2024-2025 - AOL

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   The standard deduction amounts for tax year 2024 are as follows: Single filers: $14,600. Married filing separately: $14,600 ... Southern Living. Why you really need to let steak rest. Lighter Side.

7. How to Get Paid to Be a Caregiver for Your Parents - AOL

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   Tax credits and deductions. ... according to A Place for Mom’s 2024 report on the cost of long ... provide social opportunities and help you and your loved one feel out potential senior living ...

8. 5 best tax software to maximize your return in 2025: From ...

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   • Assisted federal tax return: $49 to $169. ... Standard deductions for the 2024 and 2025 tax years. Tax year. Single. Married filing jointly. Married filing separately. Head of household.

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

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   The standard deduction for those over age 65 in 2023 (filing tax year 2022) is $14,700 for singles, $27,300 for married filing jointly if only one partner is over 65 (or $28,700 if both are), and ...