Historical Comparisons of Standard Deductions and Personal Exemptions

Tax Deductions and Credits

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://intuitturbotax.files.wordpress.com/2012/02/standard-deduction-personal-exemption-infographic.png” width=”620″ height=”1877″ title=”standard deductions personal exemptions” alt=”standard deductions personal exemptions”]

Comments (1) Leave your comment

  1. 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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s