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Standard Deductions will Increase!

Here's some good news from the IRS: Your standard deduction will go up a tad bit in 2017. Individual filers and heads of household will receive a standard deduction of $6,350 and $9,350, respectively, in 2017, up $50 from 2016. Couples filing jointly get a $100 lift to $12,700 in 2017.

Although this change isn't liable to put a lot of extra money in your pocket, anything that can reduce your tax liability without having to lift a finger is good news.

You are free to happy dance...now!

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