If you’re 50 or older, you may be eligible for additional tax breaks related to your investments, income, property, charity gifts and living situation.
Those over 50 can contribute more to retirement accounts such as 401(k)s and IRAs, leading to a higher tax deduction.
Once you reach 65, you could have a higher standard deduction and tax-filing threshold.
As a senior, you can receive free tax help if you have questions or need assistance filing your taxes.
