{"id":6963,"date":"2024-10-30T09:57:10","date_gmt":"2024-10-30T09:57:10","guid":{"rendered":"https:\/\/finderica.com\/4-resources-to-save-you-money\/"},"modified":"2024-10-30T09:57:10","modified_gmt":"2024-10-30T09:57:10","slug":"4-resources-to-save-you-money","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=6963","title":{"rendered":"4 Resources to Save You Money"},"content":{"rendered":"\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"lazyload clicker_number\" style=\"position: absolute; height: 1px; width: 100%\" alt=\"ScoreCard Research\" data-count=\"216.98.0.236,216.98.0.236, 172.68.174.31\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\"><\/p>\n<p>Tax time tends to look different after you retire.<\/p>\n<p>You might be drawing income from multiple sources: Social Security, stock dividends, a pension, 401(k) withdrawals and even interest from your savings account.<\/p>\n<p>You might need to report earnings from your side hustle, proceeds from a home sale or pay taxes on your Social Security benefits.<\/p>\n<p>Thankfully, several programs across the country help older adults file their tax returns for free.\n<\/p>\n<h2>4 Resources to Save Money When You File Taxes<\/h2>\n<p>The IRS and AARP Foundation offer in-person and virtual tax preparation and guidance at no cost to you.<\/p>\n<p>Here\u2019s how it works.<\/p>\n<div class=\"thepe-top-of-post\" id=\"thepe-402751310\">\n<div class=\"adBorder\" id=\"thepe-487265277\">\n<h3>5 Companies That Send People Money When They\u2019re Asked Nicely<\/h3>\n<p>When you log into your bank account, how do your savings look? Probably not as good as you\u2019d like.<\/p>\n<p>It always seems like an uphill battle to build (and keep) a decent amount in savings. But what if your car breaks down, or you have a sudden medical bill?<\/p>\n<p><a href=\"https:\/\/partners.thepennyhoarder.com\/nice-companies-prt\/?aff_id=384\" target=\"_blank\" rel=\"noopener\">Ask one of these companies to help\u2026<\/a><\/p>\n<\/div>\n<\/div>\n<h3>1. Tax Counseling for the Elderly (TCE)<\/h3>\n<p>The <a href=\"https:\/\/www.irs.gov\/individuals\/tax-counseling-for-the-elderly\" target=\"_blank\" rel=\"noopener\">Tax Counseling for the Elderly Program<\/a>, or TCE, provides free basic tax return preparation to people ages 60 and older. The program has been around for 45 years.<\/p>\n<p>The IRS provides funding to various community organizations, such as the United Way, which administer programs at the local level.<\/p>\n<p>Volunteers are trained to assist with retirement-specific tax issues, including questions about pensions, Social Security and required minimum distributions.<\/p>\n<p>You can rest assured your tax return is in good hands: All TCE volunteers who prepare returns are required to undergo and pass tax law training that meets or exceeds IRS standards.<\/p>\n<p>You don\u2019t need to fill out an application to receive help at a TCE site, but most locations require an appointment.<\/p>\n<p>To find the nearest TCE site in your area, call 800-906-9887 or use the <a href=\"https:\/\/irs.treasury.gov\/freetaxprep\/\" target=\"_blank\" rel=\"noopener\">VITA\/TCE Locator Tool<\/a>.<\/p>\n<h3>2. Volunteer Income Tax Assistance (VITA)<\/h3>\n<p>Volunteer Income Tax Assistance, or VITA, from the IRS is another free resource.<\/p>\n<p>It\u2019s similar to TCE, but tax filers of all ages can get assistance through the program.<\/p>\n<p><a href=\"https:\/\/www.irs.gov\/individuals\/free-tax-return-preparation-for-qualifying-taxpayers\" target=\"_blank\" rel=\"noopener\">Anyone<\/a> can get help through VITA, but priority is given to:<\/p>\n<ul>\n<li aria-level=\"1\">People who generally make $64,000 or less<\/li>\n<li aria-level=\"1\">People with disabilities<\/li>\n<li aria-level=\"1\">Taxpayers who speak limited English<\/li>\n<\/ul>\n<p>Want to take a more hands-on approach? Several VITA locations give you the option to file your own basic federal and state tax returns using web-based tax prep software. An IRS-certified volunteer can help answer any questions you have along the way and guide you through the process.<\/p>\n<p>You can find the nearest VITA location near you by using the <a href=\"https:\/\/irs.treasury.gov\/freetaxprep\/\" target=\"_blank\" rel=\"noopener\">VITA\/TCE Locator Tool<\/a>.<\/p>\n<p>VITA\/TCE volunteers can help you file a variety of tax documents, including:<\/p>\n<ul>\n<li aria-level=\"1\">Wages from your W-2<\/li>\n<li aria-level=\"1\">Interest income (Form 1099-INT)<\/li>\n<li aria-level=\"1\">State tax refunds<\/li>\n<li aria-level=\"1\">Unemployment benefits<\/li>\n<li aria-level=\"1\">IRA distributions<\/li>\n<li aria-level=\"1\">Pension income<\/li>\n<li aria-level=\"1\">Social Security benefits (Form SSA-1099, RRB-1099)<\/li>\n<li aria-level=\"1\">Simple capital gains\/losses<\/li>\n<li aria-level=\"1\">Home sale proceeds<\/li>\n<li aria-level=\"1\">Amended and prior year tax returns<\/li>\n<li aria-level=\"1\">Health savings account information<\/li>\n<li aria-level=\"1\">Education credits<\/li>\n<li aria-level=\"1\">Child Tax Credit<\/li>\n<li aria-level=\"1\">Earned Income Tax Credit<\/li>\n<\/ul>\n<h3>3. AARP Tax Aide<\/h3>\n<p>The AARP Foundation\u2019s Tax Aide is a nationwide program providing free in-person and virtual tax preparation services.<\/p>\n<p>Anyone can get assistance but the program focuses on people ages 50 and older as well as taxpayers with low to moderate incomes.<\/p>\n<p>Sites are open from late January through April 15. All Tax Aide volunteers are IRS-certified. Volunteers can help assist with state tax returns as well as federal returns.<\/p>\n<p>You don\u2019t need to be an AARP member to participate in the program.<\/p>\n<p>In 2022, the program helped secure over $1 million in tax refunds for more than 1.2 million people, according to the <a href=\"https:\/\/www.aarp.org\/money\/taxes\/aarp_taxaide\/\" target=\"_blank\" rel=\"noopener\">AARP Foundation<\/a>.<\/p>\n<p>While volunteers can help with many <a href=\"https:\/\/taxaideqa.aarp.org\/hc\/en-us\/articles\/360012461353-What-services-does-Tax-Aide-provide-\" target=\"_blank\" rel=\"noopener\">tax situations<\/a>, they can\u2019t assist with:<\/p>\n<ul>\n<li aria-level=\"1\">Rental property income (except land only)<\/li>\n<li aria-level=\"1\">Farm income<\/li>\n<li aria-level=\"1\">Certain income items on Schedule K-1<\/li>\n<li aria-level=\"1\">Moving expenses<\/li>\n<li aria-level=\"1\">Casualty and theft losses<\/li>\n<li aria-level=\"1\">The Alternative Minimum Tax<\/li>\n<li aria-level=\"1\">Losses from a self-employment business<\/li>\n<\/ul>\n<p>You can find an AARP Tax Aide site near you by using this <a href=\"https:\/\/www.aarp.org\/money\/taxes\/aarp_taxaide\/locations.html\" target=\"_blank\" rel=\"noopener\">locator tool.<\/a><\/p>\n<h3>4. IRS Free File<\/h3>\n<p>Taxpayers with adjusted gross incomes of $79,000 or less can qualify for IRS Free File.<\/p>\n<p>The program is a partnership between the IRS and companies that provide free online tax preparation and filing software.<\/p>\n<p>You can search <a href=\"https:\/\/apps.irs.gov\/app\/freeFile\/browse-all-offers\/\" target=\"_blank\" rel=\"noopener\">this list<\/a> to find an IRS Free File provider. Or use this <a href=\"https:\/\/www.irs.gov\/filing\/free-file-do-your-federal-taxes-for-free\" target=\"_blank\" rel=\"noopener\">Online Lookup Tool<\/a> from the IRS to find a provider.<\/p>\n<h2>What Tax Documents Should I Bring With Me?<\/h2>\n<p>Getting important tax documents together before you file your taxes is a smart way to save time.<\/p>\n<p>Each tax preparation program is a little different, but here\u2019s a general overview of tax information you\u2019ll need to bring with you.<\/p>\n<ul>\n<li aria-level=\"1\">Income statements, including W-2s<\/li>\n<li aria-level=\"1\">Form SSA-1099 for Social Security benefits<\/li>\n<li aria-level=\"1\">Form 1099-R for pension, IRA and\/or annuity income<\/li>\n<li aria-level=\"1\">Form 1099-R for disability income (if applicable)<\/li>\n<li aria-level=\"1\">Income from all other sources, such as 1099-INT for interest income<\/li>\n<li aria-level=\"1\">Mortgage statements and property tax bills if you\u2019re a homeowner<\/li>\n<li aria-level=\"1\">Documents detailing contributions made to a retirement account or health savings account<\/li>\n<li aria-level=\"1\">Your Social Security card<\/li>\n<li aria-level=\"1\">Government-issued state ID or driver\u2019s license<\/li>\n<li aria-level=\"1\">Tax returns from the previous two years<\/li>\n<li aria-level=\"1\">Any communication from the IRS<\/li>\n<li aria-level=\"1\">Checking or savings account information for direct deposit<\/li>\n<\/ul>\n<p><i>Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The SS.<\/i><\/p>\n<div class=\"thepe-bottom-of-post\" id=\"thepe-1875544791\">\n<div class=\"adBorder\" id=\"thepe-2137501842\">\n<h3>5 Companies That Send People Money When They\u2019re Asked Nicely<\/h3>\n<p>When you log into your bank account, how do your savings look? Probably not as good as you\u2019d like. It always seems like an uphill battle to build (and keep) a decent amount in savings.<\/p>\n<p>But what if your car breaks down, or you have a sudden medical bill?<\/p>\n<p><a href=\"https:\/\/partners.thepennyhoarder.com\/nice-companies-prt\/?aff_id=384\" target=\"_blank\" rel=\"noopener\">Ask one of these companies to help\u2026<\/a><\/p>\n<\/div>\n<\/div>\n<p>        <!-- ACF Financial Disclaimer --><\/p>\n<p>        <!-- End ACF Financial Disclaimer --><\/p>\n<p>        <!-- \n\n<div class=\"single-social-share-bottom text-center\"> --><br \/>\n                    <!-- <\/div>\n\n --><\/p>\n<p>        <!-- Newsletter Signup Form --><\/p>\n<div class=\"newsletter-signup-wrapper-for-digioh\">\n<div class=\"col-xs-12 newsletter-wrap flex-row\">\n<div class=\"container flex-container\">\n<div class=\"col-xs-12 new-newsletter-form\">\n<p class=\"text-subheading\">Ready to stop worrying about money?<\/p>\n<p class=\"text-get-daily\">Get the SS Daily<\/p>\n<p class=\"email-privacy-policy-blurb-white\">\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<p>        <!-- End Newsletter Signup Form --><\/p><\/div>\n<p><script type=\"text\/javascript\" id=\"wp-fcapi-js-before\">\n\/* <![CDATA[ *\/\n!function(f,b,e,v,n,t,s)\n{if(f.fbq)return;n=f.fbq=function(){n.callMethod?\nn.callMethod.apply(n,arguments):n.queue.push(arguments)};\nif(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\nn.queue=[];t=b.createElement(e);t.async=!0;\nt.src=v;s=b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t,s)}(window, document,'script',\n'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\nfbq('init', '263664193816679');\n\/* ]]> *\/\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.thepennyhoarder.com\/taxes\/free-tax-help-for-seniors\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tax time tends to look different after you retire. You might be drawing income from multiple sources: Social Security, stock dividends, a pension, 401(k) withdrawals and even interest from your savings account. You might need to report earnings from your side hustle, proceeds from a home sale or pay taxes on your Social Security benefits.<\/p>\n","protected":false},"author":1,"featured_media":6964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[188],"tags":[104,1001,103],"class_list":{"0":"post-6963","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-taxes","8":"tag-money","9":"tag-resources","10":"tag-save"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/6963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6963"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/6963\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/6964"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}