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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 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.
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 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 ...
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.
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]
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.
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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