On last weeks show Todd talked about some "perks" of growing older and one of those were Tax deductions for seniors: People age 65 and older are eligible for several extra tax deductions. Seniors are eligible to claim a bigger standard deduction than younger taxpayers. The standard deduction is $1,350 more for each spouse who is age 65 or older, or $2,700 if both members of a married couple meet the age requirement. If you are above a specific age and sometimes below a certain income level, you might also qualify for property or school tax deferrals or exemptions. For more information go to yoursafemoneyshow.com or call 320 679 5183.
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