New retirees, especially those on a fixed income, have to stretch out their retirement savings to cover expenses for the rest of their lives. This makes it critically important to take advantage of every tax break available, but seniors often miss tax-saving opportunities, often because they don't know about them. Kiplinger has pulled together nine tax breaks that retirees often overlook to help those still working on their 2019 returns, due July 15, of looking forward to 2020 returns. Some of these breaks have been expanded or extended due to the COVID-19 pandemic. Check out the gallery above.
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
