INDIVIDUAL / JOINT INCOME TAX returns
NAVIGATING THE Changes
The 2017 Tax Cuts and Jobs Act (TCJA), legislation passed in December 2017, made the biggest changes to the tax code since the Tax Reform Act of 1986. The major changes for individual tax returns are the increase in the standard deductions and the adjustments to the tax brackets. Below you can see the comparison of the deductions and brackets depending on your filing status.
For new clients wanting to file their returns with us please use the organizers below to prepare for your appointment.
For new clients wanting to file their returns with us please use the organizers below to prepare for your appointment.
standard deduction comparison
There will be no personal exemption amounts for 2021.
Senior Citizens: If you are age 65 or older, you may increase your standard deduction by $1,600 if you file single or head of household. If you file Married Filing Jointly and you or your spouse is 65 or older you may increase by $1,300. If both of you and your spouse are 65 and older, you may increase you standard deduction by $2,600.
Blindness: If you are legally blind, you may increase you standard deduction by $1,600 if filing Single of Head of Household. If you file Married Filing Jointly and you or your spouse is 65 or older you may increase by $1,300. If both of you and your spouse are 65 and older, you may increase you standard deduction by $2,600.
Tax bracket comparison
Individual / joint tax returns
If you are a new client or existing client with any changes to your information, please fill out the client organizer and submit it with your tax documents. Please also consult, the "What to Bring Checklist" for items that you may need for your tax preparation. For Self Employed individuals, consult the Self Employed "Manual Profit and Loss Statement" for a list of common self employment expenses.