Tax season can be particularly worrying for seniors for many reasons.
Most recently, they have to deal with changes for both Medicare and the
health care industry in general as a result of the Patient Protection
and Affordable Care Act. But tax season can be a less stressful time for
seniors if they keep these tips provided by United Methodist Homes of NJ in mind.
1. Work with a Tax Professional
When filing taxes no matter whether you are 25 or 85, seeking expert assistance for filing tax return is always advisable. Accountants or tax professionals can help you maximize your return with tax credits and avoid mistakes when filing.
2. Have all Required Information Readily Available
Stay organized and don’t forget to keep all your tax documents properly stored throughout the year. This will save time and make your filing process more efficient, especially if you have variety of income sources such as pension plans, social security benefits and retirement accounts. If you are unaware of what documentation you need try reaching out to a tax preparation center for guidance.
3. Be Aware of Scams
Tax season can bring the danger of tax-related scams targeting seniors. These scams involve emails or calls to seniors demanding for personal information for miscellaneous reasons. Remember that the IRS will never solicit your Social Security number, bank information or any other personal financial details over the phone or by email. During tax season only seek assistance from designated IRS-affiliated sites, or from a verified professional organization.
United Methodist Homes of New Jersey has assisted living communities throughout the state of New Jersey. We strive to provide safe, independent and secure assisted living arrangements so that seniors can live the life they’ve always wanted. To find out more visit us at www.umh-nj.org.
1. Work with a Tax Professional
When filing taxes no matter whether you are 25 or 85, seeking expert assistance for filing tax return is always advisable. Accountants or tax professionals can help you maximize your return with tax credits and avoid mistakes when filing.
2. Have all Required Information Readily Available
Stay organized and don’t forget to keep all your tax documents properly stored throughout the year. This will save time and make your filing process more efficient, especially if you have variety of income sources such as pension plans, social security benefits and retirement accounts. If you are unaware of what documentation you need try reaching out to a tax preparation center for guidance.
3. Be Aware of Scams
Tax season can bring the danger of tax-related scams targeting seniors. These scams involve emails or calls to seniors demanding for personal information for miscellaneous reasons. Remember that the IRS will never solicit your Social Security number, bank information or any other personal financial details over the phone or by email. During tax season only seek assistance from designated IRS-affiliated sites, or from a verified professional organization.
United Methodist Homes of New Jersey has assisted living communities throughout the state of New Jersey. We strive to provide safe, independent and secure assisted living arrangements so that seniors can live the life they’ve always wanted. To find out more visit us at www.umh-nj.org.
