Don't overlook these tax breaks
Article Abstract:
Older people can take a number of steps to reduce their taxes. These include taking advantage of the increased income limits for deductible individual retirement accounts, going back to school to qualify for a new Lifetime Learning Credit and claiming a $400 tax credit for each grandchild under 17.
Publication Name: New Choices: Living Even Better After 50
Subject: Seniors
ISSN: 1085-1003
Year: 1999
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Act now to cut your '98 taxes
Article Abstract:
Taxpayers can cut their 1998 taxes by deferring income, hastening expenses, lessening tax on Social Security benefits and contributing to an Individual Retirement Account. Taxpayers can also contribute to a Keogh plan, if they have one, and resolve any underwithholding.
Publication Name: New Choices: Living Even Better After 50
Subject: Seniors
ISSN: 1085-1003
Year: 1998
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The estimated-tax trap
Article Abstract:
Unearned income may result in an income tax balance due of $1,000 or more, which triggers a requirement to pay quarterly estimated taxes. This can be avoided by increasing taxes that are withheld. Making payments under the annualized income method is another option.
Publication Name: New Choices: Living Even Better After 50
Subject: Seniors
ISSN: 1085-1003
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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