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  2. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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    The standard deduction amounts for 2023 are $27,700 if you’re married filing jointly (an increase of $1,800 from 2022), $20,800 for heads of households (a $1,400 gain) and $13,850 for single ...

  3. Taxes 2023: What's the standard deduction for people over 65?

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    The standard deduction for those over age 65 in 2023 (filing tax year 2022) is $14,700 for singles, $27,300 for married filing jointly if only one partner is over 65 (or $28,700 if both are), and ...

  4. Tax breaks after 50 you might not know about - AOL

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    A breakdown of the maximum you can earn without filing isn’t yet available for the 2024 tax year, though you can get a sense of what to expect from 2023 tax year maximums: Single filers over 65 ...

  5. 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).

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

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    Say, for example, you earned $100,000 last year and plan to take the standard deduction as a single filer. This lowers your taxable income to $87,050. Instead of paying tax on $100,000 in income ...

  7. These States Tax Social Security: How Much Will You Pay If ...

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    But taxpayers qualify for a tax credit to offset Social Security payments if their income is under certain limits. The AGI limits are $37,000 for single filers, $62,000 for joint filers, and ...

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

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    When you file your federal income tax return, you have two choices: take the standard deduction or itemize your deductions. Check Out: 8 IRS Secrets To Know for the 2023 Tax Filing SeasonMore: 3 ...

  9. 2023 Tax Updates: What Changes Can You Expect in the ... - AOL

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    Every year brings something new to U.S income taxes, and 2023 will be no different. ... The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700, up $1,800 from ...

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