Standard Deduction For 2024 Income Tax. Most people take the standard deduction, which lets you subtract a set amount from your income based on your filing status. The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year.
New 2024 income tax brackets and a higher standard deduction may mean tax cuts for many americans. 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent.
Standard Deduction For 2024 Income Tax Images References :