Well, ’tis the season to pay your taxes, which means that you might feel a bit confused and overwhelmed in the next couple of weeks. I think it’s fair to say that the overall stress of meeting deadlines and filing out the necessary paperwork could be enough to make anyone hate this time of the year.
But don’t worry, as tax deductions for seniors are still available and easy to comprehend. The IRS offers all kinds of tax deductions for seniors, even if few people actually know about them. If you know the exact 2023 standard deduction for seniors, then filing it shouldn’t be problematic.
Even so, there might be other deductions and considerations you need to think about when it comes to both federal and state taxes. Knowing exactly what deductions you should take might help you maximize your income and act accordingly.
Who knows? You might even find more money to live in the senior living community of your dreams! Here’s what you need to know when it comes to tax deductions: