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2. The Best Tax Deductions and Tax Breaks for 2024-2025 - AOL

   www.aol.com/most-americans-think-taking-entitled...

   The standard deduction is a dollar-for-dollar reduction of your taxable income. Nearly all taxpayers are entitled to this deduction. The standard deduction amounts for tax year 2024 are as follows ...

3. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/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 lesser amount of tax ...

4. 2024 Tax Brackets and Income Rates: Find Out Where You ... - AOL

   www.aol.com/2024-tax-brackets-income-rates...

   In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.

5. IRS announces higher standard deduction, new tax ... - AOL

   www.aol.com/irs-announces-higher-standard...

   For heads of households, the standard deduction will be $22,500 for tax year 2025 — up $600 from 2024. About 90% of taxpayers claim the standard deduction now and do not itemize deductions.

6. Mortgage Interest Deduction: Limits and How It Works - AOL

   www.aol.com/finance/mortgage-interest-deduction...

   For tax year 2024, the standard deduction is $14,600 for single filers and married individuals filing separately, $21,900 for heads of household, and $29,200 for married couples filing jointly.

7. Should you itemize or take a standard deduction on your tax ...

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   According to tax pros, itemizing generally only makes sense if your itemized deductions, taken together, add up to more than the current standard deduction of $13,850 for a single filer and ...

8. IRS sets higher standard deduction, new tax brackets for 2025

   www.aol.com/irs-sets-higher-standard-deduction...

   For heads of households, the standard deduction will be $22,500 for tax year 2025, up $600 from 2024. About 90% of taxpayers claim the standard deduction now and do not itemize deductions.

9. 4 Ways To Find Tax Deductions That Work for You in 2025 - AOL

   www.aol.com/finance/4-ways-tax-deductions-2024...

   Most people take the standard deduction — for 2024 that will be $14,600 for single individuals or $29,200 for married couples filing jointly. ... itemizing deductions if they exceed the standard ...