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2. 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 ...

3. 2023 Tax Changes You Need to Know About Now - AOL

   www.aol.com/keep-tax-changes-mind-2023-164601836...

   The estate and gift tax exemption for the 2023 tax year is $12.92 million (up from $12.06 million in 2022). ... As for the annual gift tax exclusion – the amount of tax-free money you can give ...

4. 2023 Tax Updates: What Changes Can You Expect in the ... - AOL

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

   The Alternative Minimum Tax exemption amount for tax year 2023 is $81,300 for individual taxpayers and begins to phase out at $578,150. Those numbers are up from $75,900 and $539,900, respectively ...

5. Republican proposes senior tax exemption as Democrats ... - AOL

   www.aol.com/republican-proposes-senior-tax...

   According to 2023 U.S. Census data, more than 487,000 Washingtonians, or about 6.3% of the state population, fall within that range. ... wants the Legislature to exempt around 500,000 senior ...

6. How all 50 states tax retirement income: A ... - AOL

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

   Starting in 2024, 50% of the income is exempt, higher than the 25% exemption in 2023. In tax year 2025, 75% will be exempt, and IRA income will be 100% exempt from 2026 onward. ⭐ Quick facts ...

7. 2023-2024 tax brackets and federal income tax rates - AOL

   www.aol.com/finance/2023-2024-tax-brackets...

   There are seven tax brackets for most ordinary income for the 2023 tax year: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 37 percent.

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

   www.aol.com/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.

9. IRS Tax Brackets: Here’s How Much You’ll Pay in 2023 on What ...

   www.aol.com/irs-tax-brackets-much-ll-212654109.html

   2022 Federal Tax Brackets for Income Taxes Filed by April 18, 2023. Tax Bracket. Single. Married Filing Jointly or Qualifying Widow(er) Married Filing Separately. Head of Household. 10%. $0 to ...