Standard Deduction 2024 Married Filing Joint. This higher deduction lowers your taxable income, potentially placing you in a lower tax bracket and reducing your overall tax liability. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an.
The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an. The standard deduction for single filers and for married people who file separate returns rises to $14,600, up $750 from 2023;