2022 Deductions and Exemptions
Standard Deduction1Deduction
The standard deduction increases by $1,400 for a married taxpayer aged 65 or older or blind ($2,800 if both 65 and blind); by $1,750 for a single taxpayer aged 65 or older or blind ($3,400 if both 65 and blind).
Personal Exemptions: Suspended through 2025
No personal exemption is allowed to an individual who is eligible to be claimed as a dependent on another taxpayer's return.
Soloway Advisory offers customized solutions for tax and accounting needs. Providing tax planning, compliance services, and preparation of federal, state, and local tax returns for individuals and small businesses.
Office Number: (631) 473-5759
Fax Number: 631-476-1017
4667 Nesconset Hwy
Port Jefferson Station, New York 11776
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Friday: 9 am - 3 pm
Saturday: CLOSED
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