Tax season is here, and with it comes the confusion of ensuring that you can get the biggest refund possible for you and your loved ones. If you are a senior, there are many additional deductions and tax credits that you can take based on the donations and contributions you have made throughout the year. Continue reading the information below to learn more about five of the best tax breaks, including Medicare deductions, that are currently available to you if you are a senior:

1. Give money to family
You cannot legally claim a tax credit if you give money straight to your family members. If your family members run a charity, however, you can count a tax deduction for any money that you gave to their charity. You can only claim up to 60% of the cash that you gave to the family member as a charity though, so it is important to keep all documentation.

2. Spouse IRA contributions
You may know already that you can claim any personal donations that you have made from your income to your personal IRA account. You can also claim any donations that your spouse made from their income to your IRA account. This is only true if you hold a traditional IRA account rather than a Roth IRA, so be sure to discuss this option with your financial advisor when you start to file taxes.

3. Deduct Medicare premiums
It has already been mentioned that Medicare deductions should be included on your tax returns if you are a senior, but you can also deduct the expenses of your Medicare premiums. You can claim these premiums as a business expense if you are self-employed, and can deduct the amount you paid for yourself and all of your biological family. Again though, make sure you have all the proof that you need of the proof of payment of the premium.

4. Bigger standard deduction
If you do not have tax deductions that are worth itemizing, or if you choose not to itemize your tax deductions, you may save more money or receive a larger refund by filing a standard deduction. With a standard deduction, you can expect to earn at least $1200 back on your taxes if you complete a joint return. If you are single, you can expect at least an additional $1500.

5. Avoid pension payout trap
If you choose a distribution of your pension, the company that holds the pension is forced to offer a fee of 20% to your taxes. You will not receive this money until you complete your tax return, and you have to come up with the money that is needed for the IRA. That would mean that you would have to pay taxes and that you may even face unnecessary tax penalties, so this is one deduction to avoid.

Final thoughts
There are many tax deductions that are available to seniors, some of which can strongly benefit you and get you more money. Get your paperwork in order and discuss any of these options above with your tax professional. You will earn a bigger refund and will save if you owe money to your tax bills or to the IRS, but be sure to avoid a pension payout.