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For single taxpayers and married individuals filing separately, the standard deduction will increase to $12,950 — up $400. The deduction for heads of household will rise to $19,400, a $600 increase.
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.
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 single taxpayers and married individuals filing separately, the standard deduction will increase to $12,950 — up $400. The deduction for heads of household will rise to $19,400, a $600 increase.
Games. Health. Home & Garden. Lighter Side. ... Individuals who are 65 or older and those who are blind can claim an additional $1,750 for tax-year 2022, bringing their total standard deduction to ...
2021 tax savings by income from filing as head of household rather than as a single filer, using the standard deduction The head of household filing status was created in 1951 to acknowledge the additional financial burdens faced by single people caring for dependents.
26th Japan Game Awards September 15, 2022 [2] The Game Awards 2022 December 8, 2022 [3] 12th Annual New York Game Awards January 17, 2023 [4] 26th Annual D.I.C.E. Awards February 23, 2023 [5] 23rd Game Developers Choice Awards March 22, 2023 [6] 19th British Academy Games Awards March 30, 2023 [7] Game of the Year: Elden Ring: Vampire Survivors ...
With tax season in full swing and the April 18 filing deadline rapidly approaching, many Americans are once again wondering whether they should take a standard deduction or consider itemizing ...