The following are current tax tips and tax tables for your information and reference. Please contact our firm for other timely tax concerns that you may have.
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| Standard Deduction for an individual claimed as a dependent by another cannot exceed the greater of
$700 or the dependent's earned income, up to the normal Standard
Deduction
plus $250.
If one spouse filing separately itemizes, the other gets no Standard Deduction. |
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Filing Jointly |
$ 7,200 | $ 8,900 | |||||||||
Household |
$ 6,350 |
$ 7,400 |
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Individual |
$ 4,300 | $ 5,350 | |||||||||
Filing Separately |
$ 3,600 | $ 4,450 | |||||||||
Tax Rules and Regulations may change: Consult our professionals for your tax advice.
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