Tax Guide for Seniors Tax Bible Series 2016 eBook Alexander Schaper
Download As PDF : Tax Guide for Seniors Tax Bible Series 2016 eBook Alexander Schaper 
Introduction
The purpose of this publication is to provide a general overview of selected topics that are of interest to older taxpayers. The publication will help you determine if you need to file a return and, if so, what items to report on your return. Each topic is discussed only briefly, so you will find references to other free IRS publications that provide more detail on these topics if you need it.
Table I has a list of questions you may have about filing your federal tax return. To the right of each question is the location of the answer in this publication. Also, at the back of this publication there is an index to help you search for the topic you need.
While most federal income tax laws apply equally to all taxpayers, regardless of age, there are some provisions that give special treatment to older taxpayers. The following are some examples.
•Higher gross income threshold for filing. You must be age 65 or older at the end of the year to get this benefit. You are considered age 65 on the day before your 65th birthday. Therefore, you are considered age 65 at the end of the year if your 65th birthday is on or before January 1 of the following year.
•Higher standard deduction. If you do not itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year. You are considered age 65 at the end of the year if your 65th birthday is on or before January 1 of the following year.
•Credit for the elderly or the disabled. If you qualify, you may benefit from the credit for the elderly or the disabled. To determine if you qualify and how to figure this credit, see Credit for the Elderly or the Disabled , later.
•Lower threshold for deducting medical and dental expenses. If you or your spouse are 65 or older, you can deduct the part of your medical and dental expenses that exceed 7.5% of your adjusted gross income.
Tax Guide for Seniors Tax Bible Series 2016 eBook Alexander Schaper
What are you entitled to as a senior citizen? What are your tax liabilities and how can you make sure that you are paying the correct amount?In the latest in their informative series of tax books, William Stewart and John Schaper concentrate their immense knowledge on helping those who sometimes get left behind and forgotten.
A must for those who have given so much to society, this book will be invaluable to both couples and single people who have retired and must file a tax return.
There is helpful information on benefits, disability, life insurance and much more. And it’s simple to follow. No jargon or complicated formulas, just a common sense approach to what you must do and what you can save on. Ten out of ten again.
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Tax Guide for Seniors Tax Bible Series 2016 eBook Alexander Schaper Reviews
What are you entitled to as a senior citizen? What are your tax liabilities and how can you make sure that you are paying the correct amount?
In the latest in their informative series of tax books, William Stewart and John Schaper concentrate their immense knowledge on helping those who sometimes get left behind and forgotten.
A must for those who have given so much to society, this book will be invaluable to both couples and single people who have retired and must file a tax return.
There is helpful information on benefits, disability, life insurance and much more. And it’s simple to follow. No jargon or complicated formulas, just a common sense approach to what you must do and what you can save on. Ten out of ten again.
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