No matter what your occupation, our Tax Pros can help you maximize your tax refund. For more information about tax deductions and credits available to you, select your job title from the list below.
If you are retired, you may receive Form SSA-1099, Social Security Benefit Statement, or Form RRB-1099, (Railroad Retirement benefits treated as Social Security benefits). Up to 85% of these funds may be taxable, depending on other income you may have.
If you receive other retirement benefits, you may also receive Form 1099-R, Distributions from Pension, Annuity, Retirement or Profit Sharing Plans, IRAs, Insurance Contracts, etc. These benefits may be fully or partially taxable, depending on your cost or basis in the plan.
You are entitled to a higher standard deduction if you are age 65 or older or if you are blind at the end of the year. However, you should still review your expenses during the tax year to determine if itemizing your deductions would be more beneficial than taking the standard deduction. You may be able to reduce your taxes by deducting the following itemized deductions:
If you do volunteer work, you cannot deduct the value of your time, but you may be able to deduct unreimbursed, out-of-pocket expenses you incur related to your volunteer activity. The organization to which you provide services must be a qualified organization approved by the IRS. The cost of meals you eat while you perform services for a qualified organization are deductible if it is necessary for you to be away from home overnight while performing the services. You can also deduct expenses that are directly related to the use of your car in performing your volunteer work. You can deduct actual costs, such as the cost of gas and oil, or use a standard mileage rate to calculate the deductible amount. You cannot deduct general repair and maintenance expenses, depreciation, registration fees, or the costs of tires or insurance. You should keep receipts to substantiate any of the expenses mentioned previously. You may be eligible for the Credit for the Elderly or Disabled if you were age 65 or over as of the end of the year or you were under age 65 but you meet certain requirements for disability. Usually, if you are age 65 or over and do not have a qualifying child living with you for more than half of the year, you will not qualify for a refund based on the Earned Income Credit (EIC). Married taxpayers (filing jointly) with only one spouse 65 or older, may still qualify for the EIC without children.