2024 Tax Brackets And Standard Deduction

2024 Tax Brackets And Standard Deduction. You pay tax as a percentage of your income in layers called tax brackets. Trump’s policy proposals, agenda47, include a plan to make “the provisions of the trump tax cuts and jobs act (tcja) that doubled the standard deduction”.

For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; The 2024 standard deduction for tax returns filed in 2025 is $14,600 for single filers, $29,200 for joint filers or $21,900 for heads of household.