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  2. 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).

  3. How all 50 states tax retirement income: A comprehensive list ...

    www.aol.com/finance/states-that-tax-retirement...

    For the 2024 tax year, Hawaii’s standard deduction doubles to $4,400 for single filers and $8,800 for married couples filing jointly. ⭐ Quick facts: Hawaii. ... Massachusetts.

  4. Taxpayers will get higher standard deductions in 2025, IRS ...

    www.aol.com/taxpayers-higher-standard-deductions...

    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.

  5. 2023 Tax Updates: What Changes Can You Expect in the ... - AOL

    www.aol.com/finance/2023-tax-updates-changes...

    The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700, up $1,800 from 2022. ... This Massachusetts shop is offering free coffee for dancing customers. News ...

  6. If you file as single on your taxes for 2020, the standard deduction is $12,400. The standard deduction is $24,800 for individuals who are married and filing jointly.

  7. Head of household - Wikipedia

    en.wikipedia.org/wiki/Head_of_Household

    In 2021, for instance, heads of households were entitled to an $18,800 standard deduction, compared to $12,550 for single filers. In 2015, according to the Census Population Survey, 76% of head of household filers were women. [1]

  8. State and local tax deduction - Wikipedia

    en.wikipedia.org/wiki/State_and_local_tax_deduction

    In 2017, only taxpayers in New York, Massachusetts, Connecticut, and New Jersey (the states with the first, second, third, and ninth highest GDP per capita) on average sent more than $1,000 each to the federal government above what the state received per capita. [14] Capping the SALT deduction tends to increase this balance of payments deficit.

  9. The 2025 tax brackets are here. How much will you owe? - AOL

    www.aol.com/finance/2025-tax-brackets-much-owe...

    The standard deduction will increase to the following amounts in 2025: Single filers: $15,000. Heads of household: $22,500. Married couples filing jointly: $30,000.

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