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  2. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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    The standard deduction amounts for 2023 are $27,700 if you’re married filing jointly (an increase of $1,800 from 2022), $20,800 for heads of households (a $1,400 gain) and $13,850 for single ...

  3. The Best Tax Deductions and Tax Breaks for 2023-2024 - AOL

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    The Best Tax Deductions and Tax Breaks for 2023-2024. Gabrielle Olya. March 7, 2024 at 4:59 PM. ... The standard deduction amounts for tax year 2023 are as follows: Single filers: $13,850.

  4. Taxes 2023: What's the standard deduction for people over 65?

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    The IRS considers an individual to be 65 on the day before their 65th birthday. The standard deduction for those over age 65 in 2023 (filing tax year 2022) is $14,700 for singles, $27,300 for ...

  5. Standard deduction - Wikipedia

    en.wikipedia.org/wiki/Standard_deduction

    Standard deduction. Under United States tax law, the standard deduction is a dollar amount that non- itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [ 1] but usually choose whichever results in the ...

  6. 2023-2024 tax brackets and federal income tax rates - AOL

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    2023 tax brackets (for taxes due April 2024 or October 2024 with an extension) Tax rate. Single. ... Excluding any itemized or standard deduction, your total tax bill would be $10,525. Divide that ...

  7. Tax breaks after 50 you might not know about - AOL

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    Here are additional 2024 standard deductions for those over 65 showing the IRS’s tax inflation adjustments: Joint filers and surviving spouses can deduct an additional $1,550 per person over 65.

  8. 2023 Tax Brackets Are Here: Here’s What You’ll Owe Next Year

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    For the 2023 tax year, the standard deduction is: $13,850 for single taxpayers and married individuals filing separately, up $900. $27,700 for married couples filing jointly and surviving spouses ...

  9. What Is the Standard Deduction Amount for 2022-2023 and ... - AOL

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    Here are the standard deductions for the 2022 and 2023 tax years: Single: $12,950 for 2022, $13,850 for 2023. Married, filing jointly: $25,900 for 2022, $27,700 for 2023.

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