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2024 Standard Deduction Over 65 Tax Brackets

2024 Standard Deduction Over 65 Tax Brackets. With our tax system, your income is reduced by your deductions. In the u.s., there are seven federal tax brackets.


2024 Standard Deduction Over 65 Tax Brackets

If you are a single senior over the age of 65, you can claim an additional standard deduction of $1,950, married seniors are entitled to an additional $1,550. From hiking the standard deduction limit in the new tax regime to tweaking tax slabs to simplifying capital gains tax โ€” budget 2024 has changed a host of tax rules that will impact your investments.

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