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

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   The standard deduction reduces a taxpayer’s taxable income, ensuring that only households with income above certain thresholds will owe income tax. The standard deduction amounts for 2023 are ...

3. The Best Tax Deductions and Tax Breaks for 2024-2025 - AOL

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   Health or Dependent Care Flexible Spending Account. ... The standard deduction amounts for tax year 2024 are as follows: Single filers: $14,600. Married filing separately: $14,600.

4. Retirees Often Overlook These 11 Tax Deductions - AOL

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   2. Tax-Deductible HSA Contributions. Senior citizens can also benefit from a tax deduction for health savings account contributions. Deposits made directly to an HSA can be claimed, but keep in ...

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

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   For tax year 2023 (filed in 2024), standard deductions have been increased to $13,850, $27,700 and $20,800 for singles or married but filing separately, married couples filing jointly (and ...

6. Important changes you need to know about this 2024 tax season

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   Next, the standard deduction is increasing—also because of inflation—it's up $1,800 from last year to $27,700 for married couples filing jointly. For single taxpayers, the standard deduction ...

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.