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Claim These Tax Deductions Even If You Don’t Itemize

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One of the biggest changes the new tax law brings is a near doubling of the standard deduction to $12,000 on single returns, $18,000 for head-of-household filers and $24,000 on joint returns … up from $6,350, $9,350 and $12,700 in 2017. Individuals age 65 or older and blind people continue to get an additional standard deduction of $1,300 more per person ($1,600 if unmarried).

Congressional analysts say bulking up the standard deduction will let more than 30 million taxpayers avoid the hassle of itemizing write-offs on their tax return because the bigger standard deduction would exceed their qualifying expenses.

But there's a handful of tax breaks that people taking the standard deduction can still claim to lower their tax bills. Most of these so-called “above-the-line” deductions have no income limits, so anybody can claim them. And in addition to the direct tax savings from these breaks—for taxpayers in the 24% tax bracket, for instance, every $1,000 in above-the-line deductions will lower your tax bill by $240—your lowered AGI could enable you to claim other tax breaks that have income limits.

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Some almost everyone should take advantage of. Others are, well, a bit obscure.

SEE ALSO: 9 States With No Income Tax

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