Retirees may see property taxes climb even after the mortgage is gone, but the federal tax treatment is not always intuitive. Whether those payments actually reduce a tax bill can depend on how they fit with the rest of a return — and on several 2026 deduction rules.
Here's how to think through which way to deduct these taxes.
Find Out: Worried about market swings? See why investors are moving to gold and silver IRAs
Grow Rich: FREE 2026 Investor Guide + Up to $25,000 in Silver with Qualifying Purchases
Property taxes on a personal residence are an itemized deduction, not an amount taxpayers can simply add to the standard deduction, according to Jim Swiech, a certified public accountant (CPA) and founder at Go Beyond Tax. Retirees should compare their complete itemized totals with their standard deductions, then take whichever is larger.
#retirees #silver #worried
Here's how to think through which way to deduct these taxes.
Find Out: Worried about market swings? See why investors are moving to gold and silver IRAs
Grow Rich: FREE 2026 Investor Guide + Up to $25,000 in Silver with Qualifying Purchases
Property taxes on a personal residence are an itemized deduction, not an amount taxpayers can simply add to the standard deduction, according to Jim Swiech, a certified public accountant (CPA) and founder at Go Beyond Tax. Retirees should compare their complete itemized totals with their standard deductions, then take whichever is larger.
#retirees #silver #worried
1 day ago
