4 Overlooked Tax Breaks for Retirees
Learn how to keep your tax bill low in retirement.

Being alert to the changes that come at various life stages is key to holding down your tax bill. Use these deductions to save at tax time.
1. Deduct Medicare Premiums
If you become self-employed after you leave your job, you can deduct the premiums you pay for Medicare Part B and Part D, plus the cost of medigap policies or the cost of a Medicare Advantage plan.
2. Spousal IRA Contribution
If you’re married and your spouse is still working, he or she can contribute up to $6,500 a year to an IRA that you own.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
3. Give Your Money Away
If the estate tax might be in your future, take advantage of the annual gift-tax exclusion to give up to $14,000 annually to any number of people.
4. Bigger Standard Deduction
The extra money will make it more likely you’ll take the standard deduction rather than itemizing. If you do, the additional amount will save you almost $400 if you’re in the 25% bracket.
Check out even more overlooked tax breaks for retirees.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

-
Standard Deduction 2026 Amounts Are Here
Tax Breaks What is the standard deduction for your filing status in 2026?
-
Claiming the Standard Deduction? Here Are Five Tax Breaks for Retirement in 2025
Tax Tips If you’re retired and filing taxes, these five tax credits and deductions could provide thousands in relief (if you qualify).
-
New Tax Rules: Income the IRS Won’t Touch in 2025
Income Taxes From financial gifts to Roth withdrawal rules, here’s what income stays tax-free under the new Trump 2025 tax bill, and some information on what’s changed.
-
Three Popular Tax Breaks Are Gone for Good in 2026
Tax Breaks Here's a list of federal tax deductions and credits that you can't claim in the 2026 tax year. Plus, high-income earners could get hit by a 'surprise' tax bill.
-
Tax Brackets 2025 Quiz: How Much Do You Know?
Quiz Test your knowledge of IRS rules that impact how much money you keep in your wallet.
-
Retirees Face a Growing Capital Gains Tax Trap: What's Next?
Home Sales A changing housing market and unchanged IRS exclusion amounts can add up to a headache for many homeowners. Will Congress offer a fix?
-
Mortgage Refinance in 2025? These Tax Breaks Can Boost Your Savings
Tax Breaks Refinancing your mortgage comes with tax implications, but also opportunities to deduct certain expenses on your return.
-
Standard Deduction 2025 Quiz: How Much Do You Really Know?
Quiz Test your knowledge of IRS rules that impact how much money you keep in your wallet.