Increased standard deduction

1/31/2019

The new standard deductions are:

Heads of household: $18,000
Married filing jointly: $24,000
All other taxpayers: $12,000

Although you may have historically had itemized deductions exceeding these amounts, other changes to itemized deductions may affect whether you are above the standard deduction in a given year. The increased standard deduction is effective through Dec. 31, 2025.

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"There are many limitations and restrictions to this provision, so we advise that you schedule a personal tax preparation appointment with us to fully understand the impact on your situation" . 262-358-8297

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Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.

Keana founded this website and decided to also create this blog page to offer a space for those seeking knowledge to understand, however not to be confused with advice or planning strategies.

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