Standard Tax Deduction
April 8th, 2008
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Question: what is the standard deduction for filing income tax this year?
Answer: 2006 Standard Deduction:
Single: $5,150
Married Filing Separately: $5,150
Head of Household: $7,550
Married Filing Jointly: $10,300
Qualifying Widow(er): $10,300
For either age 65+ or blind, add (for each):
S: $1,250
MFS: $1,000
HOH: $1,250
MFJ: $1,000
QW: $1,000
2006 Standard Deduction for Dependent Children:
Greater of $850 or the amount of earned income plus $300 (not to exceed $5,150); blind dependents, add $1,250
Items on Amazon Right Now for Standard Tax Deduction:
Car buyers have until Thursday to get tax break
Taxpayers who are considering buying a new car to take advantage of a tax break for new car buyers should do so before Thursday, because the benefit may not be around in 2010.
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