2024 Standard Tax Deduction Amounts

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2024 Standard Tax Deduction Amounts

2024 Standard Tax Deduction Amounts. A credit cuts your tax bill directly. The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025.


2024 Standard Tax Deduction Amounts

See current federal tax brackets and rates based on your income and filing status. Based on that increase, the maximum amount of earnings subject to the social security tax (taxable maximum) is slated to increase to $176,100 from $168,600.

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