What are the recent changes to tax deductions?
An example of an AI chatbot conversation about recent changes to tax deductions.
What are the recent changes to tax deductions?
Recent changes to tax deductions include adjustments to standard deductions and itemized deductions. Would you like details on specific changes?
Yes, what is the new standard deduction amount for 2023?
For 2023, the standard deduction is $13,850 for single filers and $27,700 for married couples filing jointly.
Are there any changes to itemized deductions?
Yes, some itemized deductions have been capped or modified, such as the SALT deduction limit remaining at $10,000.
How do these changes affect my tax return?
These changes could either increase your taxable income or provide more benefits depending on your filing status and deductions.
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