Tax Breaks for People with Disabilities

Author: Allsup
Published: 2011/02/18 - Updated: 2024/03/04
Publication Type: Informative
Contents: Summary - Main - Related Publications

Synopsis: People with disabilities often are not aware of tax credits and deductions that could help them save money. In fact, certain credits are refundable, meaning you can get money back even if you owe no taxes. Tax credits offer one of the most effective ways to lower taxes because they provide a dollar-for-dollar tax reduction or refund.

Main Digest

From EITC to certain expenses, tax credits and deductions can save people thousands of dollars; tax treatment of SSDI and other disability benefits are common areas of confusion.

Many of the millions of people with disabilities may be paying more in taxes than necessary, according to Allsup, a nationwide provider of Social Security Disability Insurance (SSDI) representation and Medicare plan selection services.

"People with disabilities often aren't aware of tax credits and deductions that could help them save money," said Paul Gada, a tax attorney and personal financial planning director for the Allsup Disability Life Planning Center. "In fact, certain credits are refundable, meaning you can get money back even if you owe no taxes."

Below, Allsup highlights important steps that can help people with disabilities minimize their taxes.

Essential Tax Management Steps

Know How SSDI and Other Benefits are Taxed

Claim Tax Credits for Which You are Eligible

Tax credits offer one of the most effective ways to lower taxes because they provide a dollar-for-dollar tax reduction or refund. Some important tax credits people with disabilities are commonly eligible for include:

Use Deductions to Reduce Taxes

The information provided is not intended as a substitute for legal or other professional services. Legal or other expert assistance should be sought before making any decision that may affect your situation.

Attribution/Source(s):

This quality-reviewed publication pertaining to our Tax Information section was selected for circulation by the editors of Disabled World due to its likely interest to our disability community readers. Though the content may have been edited for style, clarity, or length, the article "Tax Breaks for People with Disabilities" was originally written by Allsup, and submitted for publishing on 2011/02/18 (Edit Update: 2024/03/04). Should you require further information or clarification, Allsup can be contacted at the Allsup.com website. Disabled World makes no warranties or representations in connection therewith.

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Cite This Page (APA): Allsup. (2011, February 18). Tax Breaks for People with Disabilities. Disabled World. Retrieved March 29, 2024 from www.disabled-world.com/disability/legal/tax/tax-deductions.php

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