One of the biggest changes the new tax law brings is a near doubling of the standard deduction to $12,000 on single returns, $18,000 for head-of-household filers and $24,000 on joint returns … up from $6,350, $9,350 and $12,700 in 2017. Individuals age 65 or older and blind people continue to get an additional standard deduction of $1,300 more per person ($1,600 if unmarried).
Fortunately, there’s a handful of tax breaks that people taking the standard deduction can still claim to lower their tax bills. Most of these so-called “above-the-line” deductions have no income limits, so anybody can claim them.
1 of 8 Next
Humor is the best anecdote for life's troubles - especially in a relationship. Couples will… Read More
All of the fun of kids with none of the tantrums. 1. This 'lil slugger… Read More
Hundreds of new hotels pop up around the world each year. With so many choices,… Read More
Now and then it's good for us all to shake up our perspective. We each… Read More
We bring you a lot of uplifting stories here at Bored Panda. From feelgood happenings that restore… Read More