Elderly and Disabled Credit

Getting old comes with a host of problems. Walkers and wheelchairs. Youngsters constantly walking on your lawn. A return to diapers.

But there are upsides as well. Cheaper movie tickets. Getting to eat dinner at 4 o’clock. And the Elderly and Disabled Credit.

Under this rule, the federal government allows older or disabled taxpayers to lower their taxable income. Like claiming a dependent, except you’re the dependent.

The credit is available to people 65 or older, or to people suffering a permanent disability. However, to take effect, the person's income has to be below a certain amount.