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

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   Here are additional 2024 standard deductions for those over 65 showing the IRS’s tax inflation adjustments: Joint filers and surviving spouses can deduct an additional $1,550 per person over 65.

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

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   A married couple of two 65+ adults would take a total deduction of $27,700 (standard deduction) plus $1,500 for one 65+ adult plus $1,500 for second 65+ adult — a total of $30,700.

4. Seniors and Taxes: Is There an End in Sight? - AOL

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   Use your bigger standard deduction: If you’re 65 or older and you don’t itemize deductions, you are entitled to a higher standard deduction. A single filer over 65 gets an extra $1,750 ...

5. 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 ...

6. Retirees Often Overlook These 11 Tax Deductions - AOL

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   Senior citizens age 70.5 and over who own an IRA can take advantage of tax-free qualified charitable distributions. They can transfer up to $100,000 per year, counting toward the required minimum ...

7. Taxes 2024: IRS Increases Tax Deductions $1,500 To ... - AOL

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   Tax Deductions For the 2024 Tax Year. The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023. ... 35% for incomes ...

8. What Is the Tax Cuts and Jobs Act (TCJA)? - AOL

   www.aol.com/tax-cuts-jobs-act-tcja-003341528.html

   In 2024, the standard deduction for single filers is $14,600, but will increase to $15,000 next year. For married couples filing jointly, the deduction is $29,200 in 2024. It will increase to ...

9. The Best Tax Deductions and Tax Breaks for 2023-2024 - AOL

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   27. Standard Tax Deduction. The standard deduction is a dollar-for-dollar reduction of your taxable income. Nearly all taxpayers are entitled to this deduction. The standard deduction amounts for ...