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2. What Is the Standard Deduction Amount for 2022-2023 and ... - AOL

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   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.

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

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   The Internal Revenue Service announced annual inflation adjustments for the 2022 tax year, including the standard deduction and tax brackets. The changes take into account the rise in inflation ...

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

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   The IRS officially started accepting tax returns on Jan. 23, which means it's time to dust off your receipts and gather your statements. Certain expenses qualify as tax deductions that can reduce ...

6. Above-the-line deduction - Wikipedia

   en.wikipedia.org/wiki/Above-the-line_deduction

   In the United States tax law, an above-the-line deduction is a deduction that the Internal Revenue Service allows a taxpayer to subtract from his or her gross income in arriving at "adjusted gross income" for the taxable year. These deductions are set forth in Internal Revenue Code Section 62.

7. How Tax Filing Status Relates to Deductions in 2021 and 2022

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   Retirement 2022: IRS Announces New COLA Guidance, 401(k) ... A qualifying widow(er) is eligible for a $25,100 deduction for the 2021 tax year and a $25,900 deduction for the 2022 tax year.

8. Section 179 depreciation deduction - Wikipedia

   en.wikipedia.org/wiki/Section_179_depreciation...

   Under section 179(b)(1), the maximum deduction a taxpayer may take in a year is $1,040,000 for tax year 2020. Second, if a taxpayer places more than $2,000,000 worth of section 179 property into service during a single taxable year, the § 179 deduction is reduced, dollar for dollar, by the amount exceeding the $2,500,000 threshold, again as of ...

9. The IRS Just Boosted Standard Deduction by 7% - AOL

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   In the past year Americans have seen multiple interest rate hikes, a Social Security cost of living adjustment and the introduction of a $740 Billion inflation reduction act. Amid all the ...