The standard deduction is a universal tax deduction that almost every U.S. taxpayer can take. The standard deduction can be referred to as the 0% tax bracket. Everything you would really need to know about the standard deduction will be in this video including who can take it, what it is, when it came to be, where you claim it, why it exists, and how much it is worth.

************************************************************
All Of My Favorite Financial Resources:
https://www.oncashflow.com/resources

How I Track My Personal Finances:
https://www.oncashflow.com/track

Investment Platform That I Use:
https://www.oncashflow.com/invest

My Favorite Calculator For Financial Independence:
https://www.oncashflow.com/retirement

Software I Use To File My Taxes:
https://www.oncashflow.com/tax

Products I Buy To Save Money:
https://www.oncashflow.com/shop

Get Personalized Consulting From Me:
https://www.oncashflow.com/consult/

IRS Standard Deduction Tool:
https://www.irs.gov/help/ita/how-much...

************************************************************
Timestamps:
0:00 Introduction
0:34 who can take the standard deduction
1:05 what is the standard deduction?
1:29 when the standard deduction applies
2:20 where to claim the standard deduction
3:34 why the standard deduction exists
4:45 how much the standard deduction is worth
7:15 IRS standard deduction tool
7:38 TAKE ACTION!

************************************************************
#TaxDeduction #StandardDeduction #IncomeTax

************************************************************
This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Before making financial and legal decisions, consult financial and legal professionals licensed in your jurisdiction. Some links provided may be part of an affiliate advertising program designed to provide a means of compensation for referring traffic and business to other companies.