Deductions and Exemptions

Jones & Company, Ltd.
501 Southwest Drive
Jonesboro, AR 72403

870.935.2871

2010 Deductions And Exemptions

Standard Deduction	2009	2010
Joint returns & surviving spouses	$11,400	$11,400
Married filing separately	$5,700	$5,700
Head of household	$8,350	$8,400
Unmarried	$5,700	$5,700

Additional Standard Deductions for Elderly (Ages 65 & Older) &/or Blind Taxpayers	2009	2010
Married / Surviving Spouse	$1,100	$1,100
Unmarried / Head of Household	$1,400	$1,400
Standard Mileage Allowance	$.55	$.55

Personal Exemption	2009	2010
	$3,650	$3,650

No personal exemption is allowed to an individual who is eligible to be claimed as a dependent on another taxpayer's return. The tax benefit of the personal exemption is phased out for higher income taxpayers. Taxpayers may not claim a dependency exemption for a dependant who is a student and who reaches the age of 24 during the tax year.