7 Tax Loopholes That Could Save You Big

One of the biggest changes the new tax law brings is a near doubling of the standard deduction to $12,000 on single returns, $18,000 for head-of-household filers and $24,000 on joint returns … up from $6,350, $9,350 and $12,700 in 2017. Individuals age 65 or older and blind people continue to get an additional standard deduction of $1,300 more per person ($1,600 if unmarried).

Fortunately, there’s a handful of tax breaks that people taking the standard deduction can still claim to lower their tax bills. Most of these so-called “above-the-line” deductions have no income limits, so anybody can claim them.

1 23 ... 8NEXT

Leave a Comment

Your email address will not be published.

gun law

5 States to Implement New Gun Laws in 2022

Last year, the Biden administration announced proposed legislative changes and executive actions to restrict “ghost guns,” “the creation of new,” and “red flag laws” and ATF clarification of firearm stabilizing braces. For law-abiding gun owners and for people who want

laws

13 Laws That Make America a Better Place

We all want a better country to live in! And usually the “friend in need” is the law. They are the most important things for a state to function properly. Some of the most important laws were written in the

From Our Network: