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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.
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 ...
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).
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 ...
Federal Tax Brackets 2022 for Income Taxes Filed by April 18, 2022 ... it is better to file a joint return because taxes are lower for married filing separately and the standard deduction rate is ...
The top bracket, in which a 37% tax rate will apply, is now $578,125 and above for individuals and $693,750 and above for married couples filing jointly, which is about $40,000 more than the 2022 ...
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