Page 56 - March 2023 Issue

are totally disabled on the last day of not cover other services on the tax bill
Spot State of Maryland Pension Exclusion repayments. Go to www.dat.maryland.
such as water, sewer, or improvement
Senior the tax year, you may qualify for the
of $34,300. Tax law is never simple, but

gov for online filing, a chart that breaks
essentially if you include on your Federal down income vs tax limit, and more
return income received as a pension or information about how the credit is
annuity from qualifi ed benefi ts, (defi ned figured. Call 410-767-5900 for assistance

as pension plans 401(a), 401(k), 403 and forms.
Senior Moments
(b), or 457(b)) you may qualify for
by Mary Moran As stated on the website www.veterans.
this exclusion. Complete form 13A,
the Pension Exclusion, Computation maryland.gov, Disabled Veterans who
March has everyone thinking about
Worksheet on your Maryland return. have a permanent and total service
taxes, so here’s a few tidbits to chew on
(marylandtaxes.gov) connected disability (rated 100% by
regarding your State return while you’re
the VA) and certain un-remarried
chewing on that pencil!

Those who are interested in renewing or surviving spouses may also be eligible
applying for the 2023 Maryland Property for exemptions from real property
As a result of the Maryland Retirement
Tax Credit can apply online today! Th e taxes on the primary residence and
Tax Reduction Act, starting with
program reopened February 6th and surrounding yard. Surviving spouses
2022, taxpayers over 65 whose Federal
applications are accepted thru October of military personnel killed in the line
Adjusted Gross Income is less than
1. Submit your application before April of duty may also apply for an exemption
$100,000 and is fi ling as an individual,
15 so any credit you are due will be from real property taxes. Go to the above
will receive a non-refundable tax
deducted from the July tax bill. website for the application, or contact
exemption of $1,000. If the taxpayer is
the Maryland Department of Veterans
a surviving spouse or if a couple is fi ling
Applications must be submitted every Affairs in Baltimore at 800-446-4926,

a joint return with a max income of

year to qualify for this benefit on your ext. 6450 to confirm eligibility. You

$150,000, and both filers are 65 or older,
principal residence. Property owners can also contact the Caroline County
the credit amount is $1,750. If any other
with a household income of less than Assessment Office from 8:00 am to
claimed dependent is 65 or over, you
$60,000 will be granted credits that are 4:30 pm at 410-974-5709 for more
can receive an extra exemption, totaling
applicable to the land necessary for their information.
up to $3,200. Remember that this is
residential dwelling only. Your net worth
not a refund. It is an exemption, also
must be less than $200,000, not including The Renters Tax Credit program has
known as a deduction, and reduces your
the property itself and qualifi ed savings opened for 2023. The concept of this
gross income to reduce your tax liability.
and IRAs. This program sets a limit on program stems from the Homeowners

Always talk to a tax professional for
how much property tax is paid based on Tax Credit Program and applies to the
guidance on exemptions.
one’s income. This does not extend to tenant’s principal dwelling only. It is

“other buildings or portions of buildings based on the assumption that renters
The website www.marylandtaxes.gov
used for business purposes”. (onestop. indirectly pay property taxes as part of
states that if you are or your spouse
md.gov) Additionally, the credit does their rent, and is based on the tenants rent
is 65 or older, or you or your spouse
vs income in relation to those property
taxes. If the bean counters establish that
TURNING 65? the portion of rent that contributes to
taxes exceeds a fixed amount, under
specific circumstances the renters can

Confused about all the Medicare Terms & Options?

receive up to $1000. This is paid directly
Let Me Help You! to the tenant as a direct check from the
State of Maryland. Call 410-767-5915 or
go to www.sdat.renters@maryland.gov
Anthony Insurance Services for more information.
Ann M. Anthony Remember that Maryland does not
tax your Social Security Benefits.
Additionally, there is some state sales tax
Specializing in Medicare Supplemental Plans, relief that went into eff ect July 1, 2022,
Medicare Advantage Plans, Medicare Part-D Plans, for diabetic care items, medical devices,
and dental hygiene products, so check
Dental and Vision, Long Term Care, and Life Insurance
Call Ann Today for an Appointment 410-708-0899 • anthonyins17@gmail.com your receipts to make sure the sellers
did not charge you the standard 6% sales
22850 Fleming Road, Denton, MD 21629
tax! The sellers’ job is to collect and pass

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