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New Tax Regime 2024 Standard Deduction For Seniors

New Tax Regime 2024 Standard Deduction For Seniors. Age, total income, claimed deductions, exemption limits, and tax regime (old vs. For 2025, the standard deduction will be $15,000 for single filers and those married filing separately, a $500 increase from 2024.


New Tax Regime 2024 Standard Deduction For Seniors

For 2024, that extra standard deduction is $1,950 if you are single or file as head of household. Seniors struggling to make ends meet may save some money when they do their 2023 taxes by claiming the extra tax deduction.

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