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2. Personal exemption - Wikipedia

   en.wikipedia.org/wiki/Personal_exemption

   The personal exemption amount in 1894 was $4,000 ($109,277 in 2016 dollars). The income tax enacted in 1894 was declared unconstitutional in 1895. The income tax law in its modern form—which began in the year 1913—included a provision for a personal exemption amount of $3,000 ($71,764 in 2016 dollars), or $4,000 for married couples.

3. 6 factors that affect how much income tax you pay - AOL

   www.aol.com/finance/2016-01-05-6-factors-that...

   Many taxpayers claim the standard deduction, which depends on your age, your income and your filing status. You can also itemize your deductions by adding up all of your eligible expenses.

4. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   Personal tools. Donate; Create account; ... the standard deduction is a dollar amount that non-itemizers may subtract from their income ... 2016 [14] $6,300 $12,600 ...

5. Income tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Income_tax_in_the_United...

   Standard deduction: Individuals get a deduction from taxable income for certain personal expenses. An individual may claim a standard deduction . For 2021, the basic standard deduction was $12,550 for single individuals or married persons filing separately, $25,100 for a joint return or surviving spouse, and $18,800 for a head of household.

6. Tax deductions 2017: 50 tax write-offs you don't know about - AOL

   www.aol.com/article/finance/2016/11/30/tax...

   Learn about the top tax write-offs for 2016, from student loan deductions to gambling deductions -- and even safety deposit box rentals.

7. What are exemptions, deductions and credits? - AOL

   www.aol.com/finance/2016-03-01-what-are...

   It is easy to lump exemptions, deductions and credits into the same basket of tax-saving mechanisms, but they are distinctly different.

8. Tax Cuts and Jobs Act - Wikipedia

   en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act

   For single filers, the standard deduction will increase from $6,350 to $12,000. About 70% of families choose the standard deduction rather than itemized deductions; this could rise to over 84% if doubled. The personal exemption is eliminated—this was a deduction of $4,050 per taxpayer and dependent, unless it is in an estate or trust. [19 ...

9. 5 tax mistakes made by baby boomers - AOL

   www.aol.com/article/2016/02/12/5-tax-mistakes...

   For 2015 and 2016, individuals over 50 can contribute up to $6,500 to a traditional IRA for a full tax deduction, even if they are covered by a retirement plan at work.