![]() ![]() One change, in particular, has been the subject of much debate in Congress, the state and local income tax (SALT) deduction, which is now limited to $10,000. Much has changed with the passing of the Tax Cuts and Jobs Act-changes that will benefit some taxpayers and negatively impact others. State, Local, and Property Taxes – Limited to $10K ![]() You may increase your standard deduction by $2,600 if both you and your spouse are blind. If you are Married Filing Jointly and you or your spouse is blind, you may increase your standard deduction by $1,300. If you are legally blind, you may increase your standard deduction by $1,650 if filing Single or Head of Household. ![]() If both you and your spouse are 65 or older, you may increase your standard deduction by $2,600. If you are Married Filing Jointly and you or your spouse is 65 or older, you may increase your standard deduction by $1,300. If you are age 65 or older, you may increase your standard deduction by $1,650 if you file Single or Head of Household. Under the new law, no exceptions are made to the standard deduction for the elderly or blind. The 2020 standard deduction is increased to $24,800 for married individuals filing a joint return $18,650 for head-of-household filers and $12,400 for all other taxpayers. 2020 Marginal Income Tax Rates and Brackets 2020 Marginal Tax Rate ![]()
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