10 Tax Breaks for Individuals 50 Years of Older

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On the 36th episode of the Retirement Explained show, I’m talking about important tax breaks that are reserved for those of us who are 50 years old or older!

Age before beauty folks and on today’s episode I cover the following:

  • Bigger standard deductions

  • Higher tax-filing thresholds

  • Property tax breaks

  • A special tax credit for the elderly or disabled

  • Additional IRA deductions

  • Additional 401k deductions

  • No more early withdrawal penalties!

  • Expanded qualified charitable distribution rules

  • Higher HSA contribution limits

  • Free tax help when filing your taxes

-Brian

Brian Rasmussen