Retirement has its perks, but Liberty Tax Service has found that seniors may not be aware of the tax rules when they have income from sources other than Social Security. Liberty Tax Service will offer a 10-week, tuition-free* Tax School that can help retirees and others understand the complex tax code and how to properly prepare their tax returns. The hands-on course will explore retirement income, tax credits, deductions, and more. Registration is open, and the course begins 9/21/16.
“It’s easy to think that once you get to retirement age your tax situation will be less complex,” said Thomas Dufour, General Manager at Liberty Tax Service. “If only that were true. Taxes can be even more challenging for retirees. Fortunately, taxpayers can take our tuition-free course, learn about these rules.”
Taxpayers who have traditional IRAs, 401ks or other workplace retirement plans and who reach age 70½ in 2016, for example, must begin receiving required minimum distribution (RMD) by April 1, 2017. If a taxpayer waits until the new year to take the first RMD, he or she will be required to take a second RMD by December 31. The two distributions in one tax year could put the taxpayer into a higher tax bracket.
Liberty Tax Service has been providing quality tax preparation in local offices since 1997. Tax School has been a part of our community outreach since our founding, and thousands of our students have learned more about tax preparation and become tax preparers, thanks to our course.
Tax School is a great tool for retirees, stay-at-home parents, college students and anyone who wants to learn more about taxes and possibly earn extra income. Students who complete the course are considered for employment at Liberty Tax Service offices.
The 10-week tuition-free Tax School meets two days a week, daytime or evening to fit anyone’s schedule. Students pay a minimal fee for books. In return, they will get skills that are valuable and marketable.
To sign up for Liberty Tax School, call 508-926-7036 or visit www.LibertyTax.com.