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For the 2024 tax year, Hawaii’s standard deduction doubles to $4,400 for single filers and $8,800 for married couples filing jointly. ... Massachusetts taxes most retirement income using its 5% ...
Tax Deductions For the 2024 Tax Year. The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023.
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.
The state taxes dividends and interest at 3% in 2024. The former 5% tax was decreasing by 1% each year, but a 2023 law accelerated the repeal to the start of 2025. [ 15 ] For large businesses, the 0.55% Business Enterprise Tax is essentially an income tax.
The standard deduction makes it easier to do your taxes because it’s a flat amount — $14,600 for individual ... The nonrefundable child tax credit is worth $2,000 per eligible child in 2024.
For dependents, the standard deduction is equal to earned income (that is, compensation for services, such as wages, salaries, or tips) plus a certain amount ($400 in 2023). A dependent's standard deduction cannot be more than the basic standard deduction for non-dependents, or less than a certain minimum ($1,250 in 2023).
For couples who file jointly, that standard deduction will be $30,000 for 2025, an $800 jump from the year prior. And heads of households will get a $22,500 standard deduction, up $600 from 2024.
The 2024 United States presidential election in Massachusetts was held on Tuesday, November 5, 2024, as part of the 2024 United States elections. Massachusetts voters chose electors to represent them in the Electoral College via a popular vote. The state of Massachusetts has 11 electoral votes in the Electoral College. A New England state ...
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