J H Tax Service

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Medical and Dental Expenses

Posted on November 25, 2015 at 3:00 PM Comments comments (0)

Medical and dental expenses can be claimed as an itemized deduction reduced by 10% of AGI.

Earned Income Credit

Posted on November 5, 2015 at 6:50 PM Comments comments (0)

For this years EIC:

Amount available are:

$3,359 for taxpayers filing jointly with one child

$5,548 for two children

$6,242 with three or more children

$503 for no children


Personal Exemptions

Posted on November 5, 2015 at 6:45 PM Comments comments (0)

This amount also goes up this year:

from $3,950 in 2014 to $4,000

Standard Deductions

Posted on November 5, 2015 at 6:45 PM Comments comments (0)

IRS released the 2015 standard deduction list:

Single  $6,300

Married Filling Jointly  $12,600

Married Filling Seperate  $6,300

Head of Household  $9,250

Surviving Spouse  $12,600




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