Tax Facts And Figures - 2021 - CPA Clinics
Age 65 and/or blind. The additional amounts for age 65 or older and/or blind, per person, per event in 2021 are:
Dependent. The standard deduction in 2021 for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,100, or earned income plus $350.
*Plus 0.9% on wages above threshold amount, plus 3.8% on unearned income above threshold amount.
2021 Standard Mileage Rate Per Mile
2021 Standard Deduction for Meals— High Low Method (Per Day)
Section 179 Expense Limits
Qualified Transportation Benefits (exclusion from income allowed, but no employer deduction)
*The moving expense deduction is available only to active duty military servicemembers pursuant to a permanent change of station (PCS) order.
401(k)/403(b) Deferral Limits
Roth IRA Phaseout Range
IRA Contribution Limits
SIMPLE Deferral Limits
IRA Deduction Phaseout Range if Covered by Employer Plan
Qualified Retirement Plans
American Opportunity Credit
Education Savings Account (ESA)
Lifetime Learning Credit
Student Loan Interest Deduction
U.S. Savings Bonds Interest Exclusion
Qualified Tuition Plans (529 plans)
