Standard Tax Deduction 2024 Single Senior.  — under the project 2025 proposal, you could pay more or less in federal income taxes, depending on your current bracket, according to howard gleckman,.  — a deduction reduces the amount of a taxpayer's income that's subject to tax, generally reducing the amount of tax the individual may have to pay.

 — in total, a married couple 65 or older would have a standard deduction of $32,300.  — for single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;