A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- Itemized DeductionListing out specific eligible expenses to subtract from income when they add up to more than the standard deduction.
- Tax DeductionAn expense you can subtract from your income to lower the amount that gets taxed.
- Taxable IncomeThe portion of your income left after deductions that the government actually applies tax rates to.
- Filing StatusA category based on your marital and household situation that affects your tax rates, deductions, and eligibility.
- Adjusted Gross Income (AGI)Your total income minus certain adjustments, used as the starting point for figuring out how much tax you owe.
Turn this into a brick
Knowing what Standard Deduction means is knowledge — the first half. A brick gets placed when you act on it.
More in Taxes
Plain-English education — not personalized legal, tax, or investment advice.