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) Facebook Click to share on X (Opens in new window) X Click to share on LinkedIn (Opens in new window) LinkedIn Click to share on Pinterest (Opens in new window) Pinterest Click to print (Opens in new window) Print 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=”https://blog-turbotax-intuit-com-prelaunch.go-vip.net/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 Reform Navigating Tax Reform: One Big Beautiful Bill Tax Changes Tax Reform See How Tax Changes Impact You with the Tax Reform Calculator Life 5 Ways to Strengthen Your Financial Foundation Life The End of Pennies: Understanding the Financial Shifts Ahead Investments Values-Based Investing: How to Get Started with ESG Tax News Georgia State Surplus Tax Refund: Everything You Need to Know About the Rebate Life To Rent or to Own: The Ultimate House Debate Life Smart Shopping This Summer: Saving on Goods and Cars Latest News Arkansas Champions NIL State Tax Exemptions: What This Means for Student-Athletes and Schools Tax Tips TurboTax Up to 5-Day Early Refund Option: What You Need to Know
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