What is the Standard Deduction?
The standard deduction is the amount of income you get to deduct from your total taxable income. Because the standard deduction lowers your taxable income, it means you pay less income tax. In 2019, the standard deduction for someone filing as single is $12,200. For a Head of Household, the standard deduction is $18,350. And…
Read MoreHow to Prepare for Tax Season with Tax-Savvy Financial Moves
It’s the beginning of the year, which means (among other things) that tax season is approaching. This year especially brings a lot of uncertainty with new tax regulations. Here are a few things you can do now to make tax season a breeze. Check how changes in tax laws will affect you Tax law changes…
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