Welcome back to our Manor Lake Cartersville assisted living and memory care blog where we strive to enlighten those of you who on subjects vital to those who provide senior assisted living services or memory care services to your loved one.
Regarding the subject of taxation, well, this is going to be a fun read, right? You might rather hear fingernails on a blackboard than discuss the subject of taxation. We get it. But tax season is here, and this time of year can be stressful for anyone, but it can be even more stressful for seniors who are trying to navigate tax preparation. If you are a senior, or you are a family member of a senior, you may need help filing taxes.
Here are just a few tips to help seniors during tax season:
1. Beware of Scammers
Tax season is the perfect time for scammers to try to take advantage of the elderly. Too often con artists will make unsolicited contact via text, email, or phone to try to obtain personal information. They are sometimes threatening or intimidating by claiming to be a higher authority. Remember that the IRS will not make unsolicited calls, nor will they ask for personal information, including your social security number, over the phone. Never wire money over the phone and never buy prepaid cards or gift cards to pay for “dues” they say you owe.
2. Calculate Your Social Security
Social security benefits alone can be confusing. But trying to figure out the taxable amount of those benefits can be overwhelming. If you are a senior preparing your own taxes, it is imperative to CAREFULLY complete the Social Security benefits worksheet. Tax season is the perfect time for scammers to try to take advantage of the elderly. Too often con artists will make unsolicited contact via text, email, or phone to try to obtain personal information.
3. Know What You’re Entitled To
As a taxpayer of age 65 or older, you can qualify for extra tax breaks. For example, you can get a bigger standard deduction, a higher tax-filing threshold, property tax breaks, a tax credit if you also have low income, and best of all…free tax help! Be sure to check your resources for additional tax benefits.
4. Get Free Tax Help
The Tax Counseling for the Elderly (TCE) program provides free tax assistance for taxpayers aged 60 years or older. IRS-certified volunteers, who are knowledgeable about tax issues relevant to seniors, will review your taxes and assist with basic tax preparation and electronic filing. You can locate the nearest TCE representative near you on the IRS website.
5. Get Ready for Next Year
Now is the time to get organized for next year. Ensure your electronic records and paper documents are easily accessible. This will make it less stressful during next year’s tax season.
Rest Easy at Manor Lake
If your senior loved one is an existing member of our Manor Lake Cartersville assisted living community or our Manor Lake Cartersville memory care community in Cartersville, GA, you can rest assured that your loved one’s best interest are why we choose this profession. Whether it medication, nutrition, physical safety, positive mental health, socialization, love and understanding, and yes, taxes….we endeavor to positively each daily, and on an improving daily basis. Just like you do.