Tax Q&A

Question:  How much is the new standard deduction?


  • Single $12,200
  • Married filing Joint $24,400
  • Head of Household $18,350
  • Married filing separate $12,200

Question:  Why do I have to efile?

Answer:  Individuals who file their returns electronically consistently report a much higher satisfaction level with the filing process than do the individuals who file their returns on paper.

E-filing reduces errors, results in faster refund times, and is safe and secure.  The IRS estimates a 7-10 day refund time for e-filed returns with electronic deposit of the refund.

Question: What are the AMT exemptions for 2019? (Alternative Minimum Tax)

Answer: ,

New law. For tax years beginning after Dec. 31, 2017 and before Jan. 1, 2026, the Act increases the AMT exemption amounts for individuals as follows:

. . . For joint returns and surviving spouses, $111,700
. . . For single taxpayers, $71,700
. . . For marrieds filing separately, $55,850.