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  2. Tax brackets and standard deduction to increase for 2022 tax ...

    www.aol.com/finance/tax-brackets-standard...

    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.

  3. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

    www.aol.com/finance/10-tax-deductions-know-2023...

    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 $14,700. The standard deduction also increases ...

  4. Standard deduction - Wikipedia

    en.wikipedia.org/wiki/Standard_deduction

    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).

  5. Tax brackets and standard deduction to increase for 2022 tax ...

    www.aol.com/news/tax-brackets-and-standard...

    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.

  6. What Is the Standard Deduction Amount for 2022-2023 and When ...

    www.aol.com/finance/difference-between-standard...

    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.

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

    www.aol.com/news/itemize-standard-deduction-tax...

    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. What's the Standard Deduction for 2021 vs. 2020? - AOL

    www.aol.com/news/whats-standard-deduction-2021...

    For most Americans, taking the standard deduction on your tax return is better than claiming itemized deductions. See how much you can deduct on your next tax return.

  9. New Tax Regime - Wikipedia

    en.wikipedia.org/wiki/New_Tax_Regime

    As per an analysis by the Revenue Department, 91.7% of tax filers (about 5.3 crore out of 5.78 crore tax filers) claimed a cumulative deduction (Sec 80 (C) + Sec 80 (D) + NPS + Loan Interest Repayment + Standard Deduction + others) of less than ₹2 lakh and less than 1 per cent of all tax filers (nearly 3.7 lakh) claimed deductions of over Rs ...