4 Great Tax Breaks for Retirees
By the time you reach retirement, you've likely stopped qualifying to receive some of the most common tax breaks, such as dependent exemptions and the Child Tax Credit. However, there are quite a few other tax breaks that retirees may qualify for more easily than workers. Here's a sampling to get you started.
Now that you're retired, you have the time to learn all those things you always wanted to know how to do. And the courses you take may make you eligible for a lovely tax credit.
The Lifetime Learning Credit allows you to claim a tax credit for taking post-secondary classes or classes to acquire or improve job-related skills (the latter may be an option if you have a part-time job or side gig). The amount of the credit is 20% of your qualified educational expenses for the year, up to a maximum of $2,000 per year. To get the credit, you'll need to be taking classes at a qualified educational institution and your adjusted gross income for the year must be $65,000 or below for single filers, or $130,000 or below for married filing jointly.
Source: Fool.com
