2024 Deductions and Exemptions
Syriac CPA Tax & Accounting Services Inc
Individual and Business Tax Preparation-Accounting Bookkeeping-New Business Preparation-Quickbook Assistance
Standard Deduction
The standard deduction increases by $1,550 for a married taxpayer aged 65 or older or blind ($3,100 if both 65 and blind); by $1,950 for a single taxpayer aged 65 or older or blind ($3,900 if both 65 and blind).
Personal Exemptions: Suspended through 2025
No personal exemption is allowed to an individual who is eligible to be claimed as a dependent on another taxpayer's return.
For more info contat Syriac CPA Tax And Accounting Services on (562) 202-9697, (949) 397-2337