taxes

Looking beyond Medicare lifetime taxes and benefits

Posted on 06/13/2013 by |AARP Blog Author | Comments

Public Policy InstituteYou may have seen the reports (2012 update and Alternative Assumptions) by Eugene Steuerle and Caleb Quakenbush from the Urban Institute showing lifetime taxes paid and benefits received from Social Security and Medicare. The authors estimate that an average male who earns the average wage during his working years and turns 65 in 2020 will pay $77,000 in Medicare taxes and receive $232,000 in Medicare benefits. These numbers vary by gender, marital status, age, and year in which the person …

Taxes on Social Security, Prescription Drugs, Food?

Posted on 06/7/2013 by |AARP Blog Author | Comments

PoliticsTax reform proposals are bubbling up in a number of states across the country as elected officials look for ways to stimulate the state’s economy or revamp outdated tax codes. Sometimes, however, a key element gets lost in the debate: what’s fair. Right now, in North Carolina, state leaders are working on a variety of proposals that would force North Carolinians to pay new taxes on the things they count on most, including the basics of everyday living. One Senate …

Are Taxes Too Complicated? What Do YOU Think?

Posted on 04/11/2013 by |Washington Watch | Comments

Bulletin Today | PoliticsSubtract line 12 from line 11 and then multiply by your frustration level. By a 2-1 ratio, American voters find the tax system too complicated, and by large margins have their federal income tax returns prepared by some someone else, according to a new Quinnipiac University Poll. Older voters feel the most pain. The survey found that 68 percent of voters age 55 and older have someone else do their federal tax returns – the highest rate of any age …

Caregiving and Taxes

Posted on 03/28/2013 by |Aging, Home & Family Expert | Comments

CaregivingAs working caregivers, we often have extra pressure around tax time. Even a simple tax situation can be very daunting as we are simultaneously working, caregiving, organizing our own and organizing our loved ones’ taxes! The good news is there may be some ways to ease the burden for your loved ones. Here is my short Taking Care with Amy Goyer: Caregiving and Taxes video with a few tips on handling this stressful time of year, which you may have …

Watch AARP Live March 21st at 10pm Eastern!

Posted on 03/18/2013 by |AARP Blog Author | Comments

Money & SavingsThe following is a guest post by Dennis Eisnach – AARP South Dakota volunteer president What Makes A Community Livable for a Lifetime?  For most of us, the ability to drive ourselves where we need to go is a given. We take it for granted. It’s easy to forget that for many seniors that’s not always the case.  As an AARP volunteer in my home state of South Dakota I see this problem every day. In some rural areas of …

Quick Tax Tips for Family Caregivers

Posted on 03/6/2013 by |Caregiving | Comments

CaregivingApril 15 is galloping into view. Give me a break! That’s what we all want when it comes to taxes. And this may be your year. Some of the rules regarding tax breaks for family caregivers have changed slightly since last year. I thought I’d do an update. Software tax programs like TurboTax, TaxAct and H&R Block at Home are easy to use and do many of these calculations for you. It’s still good to know if you qualify. You might …