Sentences with phrase «exemptions for joint filers»
Not exact matches
Furthermore, filers can also claim a personal exemption of $ 2,700 ($ 3,700 each for joint filers) and exemptions of $ 3,000 for dependents.
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Standard deduction and personal exemptions: The new law effectively doubles the standard deduction to $ 12,000 for single filers and $ 24,000 for joint filers.
For joint filers or heads of household, the exemption is $ 3,200 up to $ 150,000 in income, $ 1,600 from $ 150,000 to $ 175,000, $ 800 up to $ 200,000 and zero beyond that.
Standard deduction and personal exemptions: The plan would nearly double — but not quite — the current standard deduction of $ 6,350 for single filers to $ 12,000 and the $ 12,700 standard deduction for joint filers from $ 12,700 to $ 24,000.
For filers (joint or single) with an income less than $ 100,000, the exemption is $ 3,200.
The personal exemption amount starts to phase out for individuals with $ 254,200 AGI (adjusted gross income) and married joint filers with $ 305,050 AGI.
Also, a tax exemption applies for taxpayers older than 65 who either have income less than $ 33,000 (single filers) or $ 59,000 (joint filers).
The new tax law increases the AMT exemption amount to an inflation adjusted $ 109,400 for joint filers, and to $ 70,300 for single and other taxpayers.
A word to the high earners, eligibility for this exemption phases out when your Adjusted Gross Income (AGI) reaches $ 309,900 for joint filers and $ 258,250 for single filers.
On its capital gains tax, New Hampshire allows no standard or dependent deductions, but personal exemptions are $ 2,400 for single filers and $ 4,800 for joint filers.
Louisiana has a combined personal exemption - standard deduction of $ 4,500 ($ 9,000 for heads of household and joint filers), with additional personal exemptions of $ 1,000 for dependents.
Capital Gains Exemption: Retain current law of exempting gains of up to $ 250,000 for single filers and $ 500,000 for joint filers for primary residence lived in for two of the past five years of ownership.