More Tax Relief Program Options for Seniors

Tax Relief Program Options for Seniors

We’ve talked a lot about the Arizona Property Tax Refund Credit, but what are other opportunities and tax relief program options out there for seniors?  This is valuable information for those who don’t qualify for this tax credit, but even if you do, it never hurts to learn about all of your money-making opportunities.

Property Tax Relief for Homes You Own

I won’t go into the details of the Arizona Property Tax Refund Credit for seniors who rent right now, but I want to point out that there are also property tax relief programs that benefit seniors who do own their homes. Whether you’re a widow or widower or just a long-term homeowner interested in minimizing the tax that you pay on your home each year, these programs may do the trick.

In some cases, your age is the only qualifying factor for this type of tax relief. For other programs, you may qualify just for being a widow or widower. The best way to find out which programs you may qualify for is to talk to a qualified tax accountant in your county of residency. They can give you more up-to-date information and help you apply.

If you rent your home, that is, you being the senior renter and not the owner, then explore this site to learn more about the Arizona Property Tax Refund Credit that applies to senior renters who are at least 65 years old. This could save you hundreds of dollars, depending on your income and other qualifying factors that I highlight throughout this website.

Medical Debt Tax Relief Programs

If you have medical expenses that total more than 7.5% of your adjusted gross income, you may qualify for special tax deductions. The goal is to help you spend less money on your medical care, allowing you to spend more on housing, food and other expenses that are critical to your quality of life.

Senior Tax Credit for Those Over 65 or Who are Disabled

To qualify for this senior tax credit, you need to be at least 65-years-old or retired and on permanent disability. If the latter applies to your situation, you must have received taxable income for your disability in the year that you want to file for the tax credit. If you don’t have an adjusted gross income, you must not exceed a given income limit. This income limit includes your Social Security benefits and annuities, so this really is a tax credit designed to help seniors with limited financial resources.

Some seniors and disabled applicants will receive more than $7,000 while others receive closer to $3,000. The final amount that you’re qualified to receive is determined by your income and other factors. If you or someone you love struggles with a disability or doesn’t have much income as a senior citizen, this is one tax credit that you want to learn more about.  My advice:  talk to a qualified tax accountant in the locale where you live regarding this specific senior tax credit because some money is better than no money.

Putting the Shine on Your Golden Years

If you’re struggling with medical expenses or just with daily life due to limited income, health issues and other factors, you may not feel like your later years are so golden. I created this website because I wanted to help people like you keep as much of their money as possible. Living on Social Security benefits alone is difficult, and it’s hard sometimes even if you have some form of additional income.

I encourage you to look into the senior tax relief programs that I have mentioned here. Also pay close attention to this site because I will keep you updated on the Arizona Property Tax Refund Credit, which applies directly to senior citizens who have to pay property tax as part of their rent. This is just another way that many seniors in our state can save some money — but how much money?

I know this firsthand because I have saved well over $3,465 just by filing a few times for this one senior tax credit. If you rent an apartment and your monthly rent payment includes a fee for property tax, there’s a good chance that you will qualify for this tax credit as well. The deadline to file is the same as other individual federal and state income tax filing deadlines, April 15 of each year, and I don’t want you to miss out on the savings for the property tax that you’ve paid on your rent for the entire year of 2022.

What Senior Tax Relief Programs Will You Try?

Do you have your eye on some of these tax relief options? Maybe you even know about some other opportunities that I have yet to discover. Leave a comment to discuss the possibilities with other seniors trying to live comfortably on limited income today. It’s not easy living on Social Security these days, and we could all use a bit of support.

I’m doing everything possible to help others just like you by providing information through my website and my eBook — now in its 4th printing — and I hope that you will do the same by sharing your secrets to saving money as a senior living in Arizona today.

Related Articles: