Tax Tips for Seniors
March 27, 2017
By Team Trilogy
Tax season is almost over, but there’s good news! This year, tax payers have until Tuesday, April 18th to file and pay taxes! Why the extra (blessed) days? The usual April 15 deadline falls on Saturday, which would normally give taxpayers until at least the following Monday. However, Emancipation Day, a D.C. holiday, is observed on Monday, April 17, giving taxpayers nationwide an additional day to file!
Whatever the reason, everyone is sure to benefit from a couple of extra days to wade through their stack of receipts and paperwork. Tax season can prove tricky, even for the seasoned pros who have filed for many years. Laws and procedures change, you either can or can’t claim someone or something, and who knows what benefits you’re missing in all the hubbub!
So if you’ve waited to file your taxes this year, maybe that’s a good thing, because we’re sharing a few sites and articles below that could help you get the most from your tax return.
Contrary to popular belief, the IRS can be your friend! Find useful tips like the following on their website. If you do not itemize your deductions, you can get a higher standard deduction amount if you and/or your spouse are 65 years old or older!
AARP Foundation Tax-Aide offers free tax preparation for low-to moderate-income taxpayers – especially those 50 and older. Find a location near you for help with your taxes!
Top Seven Senior Tax Breaks – Take a look at these tax breaks you can benefit from regarding medical and dental expenses, retirement contributions and more.
6 Tax Tips for Family Caregivers – If you are caring for a loved one at home, visit this site to see how you can qualify for federal tax breaks and save some money.
Beware of Scams – Protect Seniors Online shares vital information about IRS scams and how to protect yourself from online dangers in general.
Our ultimate tip? Instead of trying to file taxes yourself, have a trusted CPA or highly rated organization to do them for you. A professional will know more about how to get the best possible return for you and your family. It’s also quick, easy, and many offer discounted rates and money back.
Good luck this tax season!
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