2020 Exemptions and Deductions

Personal Exemptions –
The personal exemption for each qualifying dependent is $0.

Standard Deductions -
The new standard deductions for those who do not itemize are as follows:

Married Filing Jointly - $24,800
Single - $12,400
Head of Household - $18,650
Married Filing Separately - $12,400

If 65 or over and/or blind add:
Head of Household - $1,650
Surviving Spouse - $1,300

Standard Mileage Rates -
The standard mileage rates for 2020 are:


Business Travel  - $0.575                     
Charitable Work - $0.14                       
Medical/Moving  - $0.17             

If you have any questions about the tax changed for 2020 please call the office. (623) 580-1957.      

2019 Tax Rates

The Income Tax Brackets for each tax rate are:

Single                                Married Jointly                           Head of Household                       Tax Rate
$1-9,875                             $1-19,750                                  $1-14,100                                    10%
$9,876-40,125                      $19,751-80,250                       $14,101-53,700                            12%
$40,126-85,525                      $80,251-171,050               $53,701-85,500                           22%         
$85,526-163,300                   $171,051-326,600                  $85,501-163,300                          24%
$163,301-207,350                 $326,601-414,700                   $163,301-207,350                        32%
$207,351-518,400                 $414,701-622,050                   $207,351-518,400                         35%
Over $518,400                     Over $622,050                        Over $518,400                               37%

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Federal law requires that once a year I inform you of our Privacy Policy. While you have probably recieved similar notices from banks, brokers, credit card companies, etc. I am going to explain our policy in very simple, easy to understand English.
As you know, we collect certain personal information about you in order to prepaire your tax returns. The information is either provided by you or obtained by our office with your permission. I want you to know that we do not disclose any nonpublic information about you to anyone, except as permitted by law or with your permission. Access to your file is restricted to those employees of our firm who need to know that information in order to provide services to you. We are trained and required to safeguard your information. We maintain strict physical electronic, and procedural safeguards to protect your personal information. As required by law we will notify you annually regarding our Privacy Policy. Again, I want you to know just how much I appreciate the opportunity to work with you and on your behalf.

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