Jul 17, 2023
When Geraldine Tyler, age 94, relocated to a senior community, she stopped paying property taxes on her home. After the property was foreclosed on, the county where Tyler’s home was located sold the property for $40,000 to recover about $15,000 in unpaid property...
Mar 20, 2023
Are you a taxpayer who has purchased long-term care insurance (LTCI)? Take note of your policy details and your premium amount, as you may be able to deduct the cost – or at least part of it – from your 2023 income. If your total eligible medical expenses (including...
Nov 14, 2022
By Jeanne Sahadi, CNN Business The IRS recently announced a record increase in contribution limits to 401(k) and other tax-deferred retirement plans for 2023. Starting next year, you will be allowed to contribute up to $22,500 into your 401(k), 403(b), most 457 plans...
Apr 4, 2022
Tax Day, which is Monday, April 18 in 2022, is approaching and it is time to begin crossing T’s and dotting I’s in preparation for paying taxes. As tax time draws near, you want to make sure you file all the proper forms and take all deductions...
May 17, 2021
The IRS has announced that the tax deduction for medical expenses includes amounts spent on face masks, sanitizer and other products purchased to prevent the spread of the coronavirus. If you have significant medical expenses, you may be able to deduct them from your...
Apr 12, 2021
President Biden has signed the latest COVID-19 relief bill, which in addition to authorizing stimulus checks, funding vaccine distribution, and extending unemployment benefits, also provides assistance to seniors in a number of other ways. The $1.9 trillion American...