Standard Deduction For 2024 Head Of Household Vs Single

Standard Deduction For 2024 Head Of Household Vs Single. Head of household filing status has two main advantages over filing single or married filing separately—more of your taxable income falls under lower tax brackets and you get a higher standard deduction. The standard deduction rose in 2024.


Standard Deduction For 2024 Head Of Household Vs Single

For example, if you’re the head of a household (unmarried with dependents paying for at least half the household costs), your standard deduction will be higher than a single. Single filers are taxed at the lowest marginal tax rate of.

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