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FIVE TAX DEDUCTIONS SENIORS ALWAYS MISS OUT ON (IN 2026)!!

@gavintalkstaxes

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Why it worked

The video provides valuable and actionable financial information relevant to a specific demographic (seniors), presented in a concise and engaging format with clear on-screen text.

Summary

The video discusses five tax deductions that seniors often miss out on for the 2026 tax year. It covers medical expense deductions, additional standard deductions for age or disability, and state and local tax (SALT) deductions.

Structure

1Introduction to tax deductions for seniors
2Medical expense deduction
3Additional senior deduction
4SALT deductions
5Call to action for more content

On-screen text

FIVE TAX DEDUCTIONS SENIORS ALWAYS MISS OUT ON (IN 2026)!! YOU'RE ABOVE THE YEARS OLD. HERE'S FIVE TAX MISSING OUT ON. HI, MY NAME THE FASTEST GROWING TAX PAGE ON ALL OF SOCIAL MEDIA. MOST COMMON TAX DEDUCTIONS MY FOLLOWERS MISS OUT ON. NO. 5, WE TAX DEDUCTION. PAYING FOR MEDICAL EXPENSES SUCH AS HEARING AIDS OR OTHER DOCTORS VISITS, YOU CAN WRITE OFF ANY AMOUNT OVER 7.5% OF YOUR GROSS INCOME. NO. 4, WE HAVE THE ADDITIONAL SENIOR DEDUCTION, WHICH ALLOWS YOU $6,000 AS A SINGLE OR $12,000 AS A MARRIED COUPLE YOU'RE OVER 65 AND YOU MAKE UNDER 75 K AS A SINGLE OR 150 K COMING IN AT WE HAVE THE SALT DEDUCTIONS. TO $40,000 THAT OWN A HOME AND YOU PAY STATE OR LOCAL TAXES. MOST SENIORS OWN HAPPENS, SO THIS APPLIES TO YOU. COMING IN AT HAVE THE ADDITIONAL DEDUCTION, WHICH IS FOR OF 65 OR DISABLED. IT GIVES YOU A $1,650 FOR EACH INDIVIDUAL WHO'S MARRIED, OR $2,050 IF YOU'RE SINGLE. AND IF YOU JUST LIKE THIS, SHARE IT WITH ME A FOLLOW.

Original caption

Millions of seniors leave thousands of dollars on the table every year simply because they are not aware of specific deductions designed for older adults. For the 2026 tax year, keeping track of these key line items on your return can drastically lower your taxable income. First, many overlook the extra standard deduction for age. If you are 65 or older, you can add an extra 2,050 dollars to your standard deduction if you file single or head of household, or 1,650 dollars if you are married filing jointly. Second, under the newer rules of the One Big Beautiful Bill Act, seniors can claim an entirely separate 6,000 dollar enhanced senior deduction. This deduction is fully available if your adjusted gross income is under 75,000 dollars for single filers or 150,000 dollars for joint filers. Third, out-of-pocket medical expenses are frequently missed. You can deduct medical and dental expenses including Medicare premiums and long-term care insurance if you itemize and the total costs exceed 7.5% of your adjusted gross income. Fourth, the Credit for the Elderly or the Disabled is a valuable credit that people often skip because calculating it requires filing a separate Schedule R. Finally, retirement contributions or specific charitable distributions made directly from an account can provide additional ways to lower your taxable income if you meet the age criteria. Let me know in the comments if you are claiming these deductions this year, or if you have questions about the income limits. #gavintalkstaxes (https://www.instagram.com/explore/tags/gavintalkstaxes/) #taxnews (https://www.instagram.com/explore/tags/taxnews/) #2026taxes (https://www.instagram.com/explore/tags/2026taxes/) #taxtips (https://www.instagram.com/explore/tags/taxtips/) #PersonalFinance (https://www.instagram.com/explore/tags/personalfinance/)