How Much Is 2015 Standard Deduction

The one thing in life that's guaranteed is that you'll have to pay taxes. Thankfully, though, the government opts not to force you to pay on your entire amount of income.

Basically, standard deduction is a set amount of income that the government won't apply tax to. Many people opt to take the standard deduction when filing their tax returns, as it can be worth between $6,300 to $12,600, and can save the taxpayer time by not having to itemize. All you have to do is state your filing status (single, married filing separately, or married filing jointly) and that you are opting for the standard deduction when you file. It's easy and quick.

In 2015 the standard deduction per filing status, is:

"Single" or "Married filing separately" - $6,300

"Married filing jointly" or "Qualifying widow(er) with dependent child" - $12,600

"Head of household" - $9,250