Inflation Stands at 3.3% in 2024: Importance of Financial Management for Seniors
Date: March 9, 2024
In 2024, the inflation rate has settled at 3.3%, marking a notable financial landscape for many individuals and families. However, despite this economic trend, pension increases have not kept pace, underscoring the importance of careful financial management for everyone, particularly seniors. Financial experts emphasize the need for individuals to remain proactive about their finances and seek assistance if necessary.
Seeking Financial Guidance
Seniors are encouraged to pay close attention to their financial matters and not hesitate to reach out for help from well-trained financial advisors. A significant aspect of managing finances includes not missing out on potential tax refunds or benefits. Even if individuals do not receive a notice from the tax authorities prompting them to file a tax return, it may still be beneficial to consult a tax preparer. An assessment from a qualified professional can clarify whether filing a return is advantageous and ensure that entitlement to various benefits is not overlooked.
Potential Relief for Healthcare Costs
Additionally, seniors with lower incomes but considerable healthcare expenses may qualify for reimbursements related to specific healthcare costs. The tax office will re-evaluate whether individuals are missing out on certain tax credits. If this is determined to be the case, they will receive compensation reflecting the amount lost due to overlooked tax credits associated with their healthcare expenses.
Support for Seniors in Tax Filing
This year, all tax preparers working within the Cluster Seniors Cuijk have undergone a refresher course aimed at assisting seniors in completing their 2024 income tax returns. This service is tailored specifically for seniors aged 55 and above residing in the former municipality of Cuijk who are not actively participating in the workforce. An administrative fee of €15.00 will be collected for this service, aimed at covering operational costs.
The dedicated team of tax preparers ensures that all returns are submitted before the May 1 deadline. There is an emphasis on timely filing; those expecting to receive a tax refund are advised to submit their returns by April 1 to receive communication from the tax office by July 1, 2025. Should circumstances prevent meeting the May 1 deadline, an extension may be requested.
Eligibility Criteria for Assistance
To qualify for assistance through this program, applicants must adhere to specific income limitations. For the year 2024, the income threshold for single individuals is set at €37,496, while for married or cohabiting couples, the limit is €47,368 per year.
In the former municipality of Cuijk, the coordination of tax preparer applications is managed by the Sector Individual Interest Representation. Individuals interested in obtaining assistance are encouraged to submit their requests by contacting the Info Desk at 0485 – 574440, selecting menu option 1, or by sending an email to [email protected].
As inflation continues to impact financial stability, especially for seniors, taking proactive steps and leveraging available resources can make a significant difference in managing one’s financial situation.
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