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2. Taxes 2023: Here's how to know if you should itemize - AOL

   www.aol.com/finance/taxes-2023-heres-know...

   For the 2022 tax year, the standard deduction amounts are: $12,950 if you’re single or married filing separately. $19,400 for heads of household. $25,900 for married couples filing jointly and ...

3. What Is the Standard Deduction Amount for 2022-2023 and ... - AOL

   www.aol.com/difference-between-standard...

   Here are the standard deductions for the 2022 and 2023 tax years: Single: $12,950 for 2022, $13,850 for 2023. ... Itemized Deductions. Itemized deductions that may be claimed include:

4. Should you itemize or take a standard deduction on your tax ...

   www.aol.com/news/itemize-standard-deduction-tax...

   When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or itemize. According to tax pros, itemizing generally only makes sense if your itemized ...

5. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   Under United States tax law, itemized deductions are eligible expenses that individual taxpayers can claim on federal income tax returns and which decrease their taxable income, and are claimable in place of a standard deduction, if available. Most taxpayers are allowed a choice between itemized deductions and the standard deduction.

6. Income tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Income_tax_in_the_United...

   As of 2010, 68.8% of federal individual tax receipts, including payroll taxes, were paid by the top 20% of taxpayers by income group, which earned 50% of all household income. The top 1%, which took home 19.3%, paid 24.2% whereas the bottom 20% paid 0.4% due to deductions and the earned income tax credit.

7. 2023 Tax Updates: What Changes Can You Expect in the ... - AOL

   www.aol.com/finance/2023-tax-updates-changes...

   In an October announcement, the IRS outlined these changes for 2023: The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700, up $1,800 from 2022. For single ...

8. Qualified Performing Artist Deduction - Wikipedia

   en.wikipedia.org/wiki/Qualified_Performing...

   Reduced AGI increases eligibility for tax credits and other tax deductions while simultaneously reducing taxable income. Since the passage of the Tax Cuts and Jobs Act in 2017, all miscellaneus itemized deductions, including unreimbursed employee expenses, have been eliminated. As a result, performing artists no longer have the option to deduct ...

9. Retirees 65 and Older Eligible for Extra Standard Deduction ...

   www.aol.com/retirees-65-older-eligible-extra...

   For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older OR blind are: $1,850 for single or head of household. $1,500 for married taxpayers (per qualifying ...