Tax Deductions and Credits Historical Comparisons of Standard Deductions and Personal Exemptions Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by TurboTaxLisa Published Feb 8, 2012 - [Updated Sep 7, 2017] 0 min read Throughout history the IRS continues to give us a little break on our taxes by adjusting the standard deduction and personal exemption each year for inflation. See how these deductions have increased throughout the years with our infographic comparison. [intuit_tt_infographic id=9375] [tt_share_code url=”http://blog-turbotax-intuit-com-develop.go-vip.co/wp-content/uploads/2012/02/standard-deduction-personal-exemption-infographic.png” width=”620″ height=”1877″ title=”standard deductions personal exemptions” alt=”standard deductions personal exemptions”] Previous Post What is the Earned Income Tax Credit? Next Post Expanded Qualified Adoption Tax Credit Rules Written by Lisa Greene-Lewis Lisa has over 20 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Lisa has appeared on the Steve Harvey Show, the Ellen Show, and major news broadcast to break down tax laws and help taxpayers understand what tax laws mean to them. For Lisa, getting timely and accurate information out to taxpayers to help them keep more of their money is paramount. More from Lisa Greene-Lewis Follow Lisa Greene-Lewis on Twitter. One response to “Historical Comparisons of Standard Deductions and Personal Exemptions” I am a US Army veteran with 20 years active service. I have a 100 % Disability compensation from the VA and I also draw my Retired pay. My wife is also Disabled from Social Security. I would like to know what exemptions I can use to draw the most monies from the tax people. Can you please help me? I am 62 years old and my wife is 61 years old. Reply Leave a ReplyCancel reply Browse Related Articles Tax News Intuit TurboTax April Report: A Look at Refunds and S… Tax Planning April 15 is the Tax Deadline: 6 Things You Need to Know… Tax Planning Unable to Pay Your Tax Bill? Here’s What To Do Tax Tips Tax Credits 101: What They Are & How They Work Business How to Know if You Should Invest in Business Insurance Tax Deductions and Credits What Is the Standard Tax Deduction for 2023 – 202… 401K, IRA, Stocks Should You Use Your 401(k) or Retirement to Pay Off Deb… Tax Planning What Happens If You Don’t Pay Taxes? Understanding Pe… Tax Deductions and Credits Family Taxes: Take Advantage of Tax Savings Taxes 101 How Much Do You Have to Make to File Taxes? Demystifyin…
I am a US Army veteran with 20 years active service. I have a 100 % Disability compensation from the VA and I also draw my Retired pay. My wife is also Disabled from Social Security. I would like to know what exemptions I can use to draw the most monies from the tax people. Can you please help me? I am 62 years old and my wife is 61 years old. Reply