5 tax tips for older adults

By KATE ASHFORD of NerdWallet

More than half of older taxpayers (57%) are worried they’ll have to pay more taxes this year because of the 5.9% Social Security cost-of-living adjustment in 2022, according to a January survey by The Senior Citizens League. Taxes for the over-65 set can feel more complicated for a variety of reasons: There are often multiple streams of income, some retirees still work part time, and people may be managing required minimum distributions from retirement accounts. From Medicare premiums to state tax breaks, here are some tax items to keep in mind this tax season.