The Most-Overlooked Tax Breaks for Retirees

Unfortunately, seniors often miss tax-saving opportunities that are available to them. Don't let that happen to you!

picture of senior couple shocked by what they see on a piece of paper
(Image credit: Getty Images)

For new retirees, it's more important than ever to take full advantage of every tax break available. That's especially true if you're on a fixed income. After all, you have to stretch out your retirement savings to cover the rest of your life. But holding on to your money during retirement is easier said than done. That's why retirees really need to pay close attention to their tax situation.

Unfortunately, though, seniors often miss valuable tax-saving opportunities. In many cases, it's simply because they just don't know about them. Don't let that happen to you — check out these often-overlooked tax breaks for retirees. You could save a bundle!

Rocky Mengle
Senior Tax Editor, Kiplinger.com

Rocky is a Senior Tax Editor for Kiplinger with more than 20 years of experience covering federal and state tax developments. Before coming to Kiplinger, he worked for Wolters Kluwer Tax & Accounting and Kleinrock Publishing, where he provided breaking news and guidance for CPAs, tax attorneys, and other tax professionals. He has also been quoted as an expert by USA Today, Forbes, U.S. News & World Report, Reuters, Accounting Today, and other media outlets. Rocky has a law degree from the University of Connecticut and a B.A. in History from Salisbury University.