$15,000 for married, filing separately $30,000 for married filing jointly $22,500 for head of household $1,600 additional standard deduction for age 65+ or blind $2,000 additional standard deduction for age 65+ or blind AND unmarried or not a surviving spouse I can’t overstate how impo...
The standard deduction in 2025 will rise to $30,000 for married couples filing jointly, a roughly 2.7% increase from the current tax year's $29,200. Meanwhile, single filers and married couples filing separate returns will see their standard deduction rise to $15,000 from this year's $14...
The standard deduction next year is projected to increase to $30,000 for married couples filing jointly, up from $29,200 in the current tax year. The standard deduction for single taxpayers is forecast to rise to $15,000, up from $14,600 in 2024, Wolters Kluwer said. Head of household...
For married couples filing jointly, if the spouse making the IRA contribution is covered by a workplace retirement plan, the phase-out range is between $126,000 and $146,000 (up from between $123,000 and $143,000 last year). For an IRA contributor who is not covered by a workplace ...
If married filing jointly, a couple's combined wages can not exceed $250,000 [2]. There are also additional income restrictions if one spouse made over $200,000, or over $168,600 if they have more than one employer. Direct File eligibility In its first year, the pilot program was ...
Married Filing Jointly Most married couples benefit most from this status; it has the highest standard deduction and other income limits for certain credits and deductions. Married Filing Separately Generally, high income earners who are married may benefit from this if they wish to keep their incom...
The standard deduction, or the specific dollar amount that reduces the amount of income on which you’re taxed, has also increased. Wintry weather forces postponement of AHSAA bowling, wrestling dualsJan. 20, 2025, 7:28 p.m. For married couples filing jointly, the new amount is $27,700 ...
Additionally, the standard deduction will increase to $24,800 in tax year 2020, a $400 increase, for married taxpayers filing jointly. For single taxpayers, it will rise by $200 to $12,400. The maximum amount for the Earned Income Tax Credit will rise to $6,660. The Alternative Minimum...
Under the ruling, legally married same-sex couples generally will file their 2013 federal income tax returns using either “married filing jointly” or “married filing separately” filing status. Such individuals may, but are not required to, file original or amended returns choosing to be treated...
The standard deduction for married couples filing jointly for tax year 2023 increases to $27,700, up $1,800 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $13,850 for 2023, up $900. For heads of household, the sta...