If there’s one thing that surely boggles the mind, it’s the filing of income tax. Unfortunately, it’s mandatory for all adults who walk the streets and use public facilities. Lucky for those who’re able to hire a good accountant for they don’t have to worry about overlooking some things that may or may not benefit the filing senior. Since you’re paying these people good money, might as well have them looking through holes, nooks and crannies! But how about those seniors who only have themselves to rely on? Easy, just ask about tax counseling offered by organizations within your area.
As you can see, every country or state has their own set of rules when it comes to taxes, part of the reason why it’s quite hard to get clear tax guidelines over the internet. I know, because I tried so many times and I must admit, I grew crazy just by looking at them files. With that said, I’ll just speak in a general manner. If you think some of the things here apply to you then consult authorities within your area to know if they are indeed applicable under your laws.
Your filing status is one of the most important things in filing your income tax. This will be the first basis on how and what range your papers should be processed. As a rule of thumb, the status “single” is the costliest of all; “married” will be treated under combined income with your spouse’s  and the cheapest of all is the “head of household” wherein you are “single” but directly and financially in-charge of the whole household i.e caring for your elderly parents or sending your grandkids to school.
Gross income would be everything that has earned you in forms of money, property or even services. Because seniors’ income may come from many different sources and forms plus taking into consideration their age, they are usually given special treatment during process. On the other hand, gift and inheritance don’t qualify under gross income but are subjected under gift and estate taxes. Also, some supportive services are excluded in your gross income.
I believe life insurances are not subjected to tax as well as health insurances.
Furthermore, if you are paying for your loved-one’s education, you may qualify for some exemption so you better prepare necessary papers for it too. Compensations you may get from disabilities are generally not included in your gross income but there are certain types of compensation that may be subjected to tax.
Aside from tax deductions, you can also take advantage of tax credits to lower your taxes to be paid. If you are an elderly person, or disabled, you are qualified for special tax credit while caring for a disabled person will qualify the caregiver for a tax credit.
Bottom line is, don’t be afraid to include everything that completes your gross income then think of all those credit deductions you might be eligible for. Of course, don’t forget to consider your tax credit, if any.