Senior finances are much different than that of someone working and raising a family. Two things that go together like peanut butter and jelly is Finance and taxes. The one thing that all people have in common is that nobody loves taxes.
I will cover topics that seniors face during their retirement years involving finance and taxes. It will be mostly tax information as that’s where I am a bit more experienced. I will also post the relevant dates and updates pertaining to taxes. Keep in mind that this will be information based on Federal taxes. Each state has its own tax rules and policy and you should become familiar with the rules and procedures in your home state.
Some people have fairly easy tax returns. If you are patient and good with a computer, you could benefit by completing your taxes with some of the free/low cost software that is available. If you get stuck on a question there is usually a phone number you can call for help with no extra cost. If your taxes are complicated and you get overwhelmed easily you might want to take it to a tax professional.
Below is a list of free and low-cost tax software you can use. Keep in mind the “name brand” software below have much different prices for the “self-serve” online version and the “walk-in” version.
IRS Free File Information Page
IRS Free File (Closed for 2024 Season)
If there is a topic you would like to see me cover, drop me a comment down below and I will do my best to get it done.