Tag: standard deduction

$1300 to $2600 Additional Standard Deduction for Seniors Over 65 under GOP/Trump Tax Reform

As part of the GOP tax reform bill to support President Trump’s tax reform agenda there has a near doubling of the standard deductions that can be taken in 2018 and beyond…. Read more »

2014 IRS Tax Brackets and Rates With Standard Deduction and Personal Exemption Updates

Below are the 2014 IRS federal tax brackets based on annual inflation adjustments. Given the low inflation environment there were only moderate increases in tax brackets, standard deductions and to the personal… Read more »

2012 Tax Brackets and Federal IRS Rates, Standard Deduction and Personal Exemptions

2012 and 2011 tax rates stayed the same as 2010 levels thanks to an extension of the Bush-era tax cuts. This has been confirmed by the IRS with the release… Read more »