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Jones & Company, Ltd.
501 Southwest Drive
Jonesboro, AR 72403

870.935.2871

 
 

2009 Deductions And Exemptions

Standard Deduction 2008 2009
Joint returns & surviving spouses $10,900 $11,400
Married filing separately $5,450 $5,700
Head of household $8,000 $8,350
Unmarried $5,450 $5,700
     
Additional Standard Deductions for Elderly (Ages 65 & Older) &/or Blind Taxpayers 2008 2009
Married / Surviving Spouse $1,050 $1,100
Unmarried / Head of Household $1,350 $1,400
Standard Mileage Allowance $.505 .585 $.55
     
Personal Exemption 2008 2009
  $3,500 $3,650

No personal exemption is allowed to an individual who is eligible to be claimed as a dependent on another taxpayer's return. The tax benefit of the personal exemption is phased out for higher income taxpayers. Taxpayers may not claim a dependency exemption for a dependant who is a student and who reaches the age of 24 during the tax year.

 

 

 

 
 

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