Senior Tax Breaks

Reaching retirement age opens up tax deductions and credits that younger taxpayers don't have access to. These senior tax breaks can lower what you owe the IRS, reduce your taxable income, or put money back in your pocket—but only if you know they exist and meet the basic requirements. The rules change depending on your age, income, and filing status, so what applies to one retiree may not apply to another.

These articles explain which tax breaks might work for your situation: how the standard deduction increases at certain ages, what medical expenses you can deduct, whether you can exclude certain types of income, and how to handle taxes on Social Security or retirement account withdrawals. You'll learn what documentation you need and how these breaks interact with each other on your tax return.