7/24/2023 0 Comments Georgia income tax brackets 2021![]() ![]() ![]() If you receive disaster assistance (such as grants from FEMA or Small Business Administration loans in response to a declared disaster) during the tax year, you can claim a credit up to $500. This credit can be carried forward for three years. If a permanently disabled person retrofits an existing single-family home with accessibility features, they can claim a credit up to $125. Disabled Person Home Purchase or Retrofit CreditĪ permanently disabled person that buys a single-family home with accessibility features (such as a no-step entrance) can claim a credit up to $500. The credit is worth 30% of the credit claimed on your federal income tax return. Taxpayers with dependents can claim a credit for qualified child and dependent care expenses, such as money spent for care outside of your home. Georgia State Income Tax Credits Child and Dependent Care Expense Credit The exemption is $2,700 for single filers, heads of households or qualifying widowers, $3,700 for married filing jointly and separately, and $3,000 per qualifying dependent. The state of Georgia has personal exemptions to lower your tax bill further. Generally, if you itemize your deductions on your federal return, you must itemize them on your Georgia return. There is an additional standard deduction of $1,300 for those aged 65 or over, and blind. The 2021 standard deduction allows taxpayers to reduce their taxable income by $4,600 for single filers, $3,000 for married filing separate and $6,000 for married filing jointly. The state of Georgia offers a standard and itemized deduction for taxpayers. Georgia Income Tax Brackets and Rates: Single Filers Georgia Income Tax Brackets and Rates: Married Filing Jointly or Head of Household Georgia Income Tax Brackets and Rates: Married Filing Separate Income Tax Deductions for Georgia Standard Deduction
0 Comments
Leave a Reply. |