What is Ma personal exemption?
What is Ma personal exemption?
Personal exemption
| Filing status | Exemption amount |
|---|---|
| Single | $4,400 |
| Married filing separate | $4,400 |
| Head of household | $6,800 |
| Married filing joint | $8,800 |
Does Ma have itemized deductions?
MA does not allow federal itemized deductions. MA has several additional deductions of it’s own. An example would be medical or adoption deduction, which are specifically allowed in MA law.
Is EZ Pass tax deductions in MA?
The deduction is allowed if: You purchase a pass for a dependent who is claimed on your tax return, and….Dependents claimed on your income tax returns.
| Husband | Wife | |
|---|---|---|
| Deduction Amount With Limitation: | $750 | $400 |
Can you deduct home office expenses in Massachusetts?
Home office deduction If you have an office in your own home, you’re allowed a deduction for expenses related to home office use. The allowable deduction for home office expense is $5 per square foot (maximum of 300 square feet) of qualified home office space used, up to a maximum yearly deduction of $1,500.
Are moving expenses tax deductible in Massachusetts?
DISCUSSION: Under Massachusetts law, a taxpayer is entitled to deduct moving expenses which are deductible for federal income tax purposes under section 217 of the Code only to the extent of any amounts reimbursed by an employer and included by the taxpayer in her Massachusetts gross income.
What are the tax deductions in Massachusetts?
The Massachusetts dependent deduction for an unmarried taxpayer is $0 per dependent. Tax Withholding: Most employees will have a percentage of each paycheck withheld automatically for payroll tax, the federal income tax, and the Massachusetts income tax.
How much is my standard deduction?
The standard deduction is a specific dollar amount that reduces your taxable income. In 2020 the standard deduction is $12,400 for single filers and married filing separately, $24,800 for married filing jointly and $18,650 for head of household.
What is Massachusetts FICA tax?
Massachusetts FICA Tax Rate and FICA Tax Limits The FICA tax rate is 15.3% of taxable wages. The FICA Tax is comprised of the Social Security Tax and Medicare Tax. The Social Security taxable wage base is the first $118,500 paid in wages to each employee during a calendar year.
What are standard tax deductions?
The standard deduction is the portion of income not subject to tax that can be used to reduce your tax bill.
