2024 Tax Rates And Standard Deduction Over 65

2024 Tax Rates And Standard Deduction Over 65. You can claim a standard deduction to reduce your taxable income as well as an additional deduction if you are age 65 or older and/or blind. You pay tax as a percentage of your income in layers called tax brackets.

For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for. Here’s a look at the projected numbers for the tax year 2024, beginning jan.