Get the Penny Hoarder Daily. The size of the deduction starts to phase out if. This means that when you total up all of the medical bills you pay during the year, only the portion that is more than $3,750 can be claimed as an itemized deduction. a. For example, they don't have to pay taxes on some types of income. You use a Schedule A, Itemized Deductions, to claim the deductions as a miscellaneous deduction limited by 2% of your adjusted gross income. Qualified Business Income. If you need advice, contact us at info@personaltaxspecialists. A job description for a Lifeguard may contain the following duties and responsibilities: Opening and closing the pool each day according to scheduled hours. To apply to be a DCR lifeguard visit the agency’s website . Form 1099-MISC. There may be deductions available for business animals if the animal lives at the. § 570. Jackson's standard deduction is $2,300 [(earned income + $300) > $850). With over 20 years of combined tax experience our tax agents are ensuring that you get the biggest tax refund possible. $4,005; Third Year. Personal aquatic survival skills include: sculling. 3% of all certified lifeguards are women, while 49. 00 including benefits. You must complete Section B of Form 8283 for each item or group of similar items for which you claim a deduction of over $5,000. Zippia's data science team found the following key facts about certified lifeguards after extensive research and analysis: There are over 53,734 certified lifeguards currently employed in the United States. To. Wet weather gear and sun protection clothing can be claimed for anyone who works outdoors full-time. Seminars, conferences and training courses. The IRS allows tax deductions on medical expenses related to "the diagnosis, cure, mitigation, treatment, or prevention of disease" — but not until the expenses exceed 7. If you have $50,000 or less in startup costs and are in your first year of business, the IRS allows you to deduct $5,000 in startup costs and $5,000 in organization costs as a tax deduction. basic swimming skills. BUT she still owes self. This would add another $444. Teamwork is one of the most valuable job skills learned as a lifeguard. 3% self employment (SE) tax plus income tax based on his individual tax rate. Most are temporary, however. use of devices to assist rescue, and. Because their income is the same, what causes the difference in the amount of the standard deduction?, Compute the. Deductions can reduce the amount of your income before you calculate the tax you owe. Startup costs. 67/yr to the annual tax deductions. This is a nice deduction, but if you own a home, make contributions to a retirement account, or made charitable contributions the. If you claim a deduction of more than $500,000 for a donation of property, you must attach the appraisal. 10. A personal aquatic survival skill lets a person survive and/or be safe in the water. FAQ. However, there are specific scenarios where you might be able to claim a deduction. floating. A nationwide shortage of lifeguards has water parks, camps and municipalities scrambling to hire thousands to staff swimming pools, lakes and beaches. $5,050. Medicare taxes are 1. You can use this form if you are age 65 or older at the end of 2022. Education and Training. 20 Popular Tax Deductions and Tax Credits for 2023-2024. For example, if your total medical expenses for diabetes and other health-related issues cost $3,800, you can claim a $50. Here are the current deducton amounts: Tax year 2020: $12,400 (single) & $24,800 (married, filing jointly) Tax year 2021: $12,550 (single) & $25,100 (married, filling jointly) Just for filing a tax return in 2021 for 2020, the “standard deduction” reduces your taxable income by up to $24,800. S. It's actually part of the Consolidated Appropriations Act of 2021, which bundled together a number of COVID relief measures. The ATO accepts sun protection tax deductions for sunglasses where a worker is exposed to the sun during their work day. 625 for the second half . For example, if you earn $100,000 this year and have $5,000 in tax deductions. In other words, no deduction is allowed for “voluntary” out-of-pocket expenses (consistent with the principle that no good deed goes unpunished). Just like a suitcases used to transport files, or a laptop bag, handbags can be claimed as a. Her itemized deductions for 2011 were $400. find out what records you need to keep. Plans. 12. 4. However, if you claim over $300 you need proper substantiation for all of the amount including the first $300. In addition the the aggregate $1,200 limit, annual dollar credit limits apply to specific items including: Home energy audits: $150. Extension deadline: October 15, 2024, is the deadline if you request an extension (October 16, 2023, for 2022 returns). Although $12,600 (earned income) + $350 = $12,950, the amount allowed cannot exceed that available in 2021 for single taxpayers, which is $12,550. 2021 Standard deduction allowed =$4,700 + $350 =$5,050 Therefore the amount of the standard deduction allowed for 2021 for Mattie will be $5,050. Extension deadline: October 15, 2024, is the deadline if you request an extension (October. For example, if your AGI is $50,000, you can deduct medical expenses in excess of $3,750. treading water. For 2021, qualified long-term care premiums, up to the amounts shown below, can be included as medical expenses on Form 1040, Schedule A, Itemized Deductions, or in calculating the self-employed health insurance deduction: Age 40 or under: $450. For example, in 2009 the standard deduction amount for a married couple filing jointly was $11,400. While Johnny won’t pay taxes on his earned income, he will be subject to taxes on his unearned income at his tax rate and his parent’s tax rate (let’s. Since Johnny earned $10,000, his standard deduction is $10,400 for the year. If you're married, filing jointly or separately, the extra standard deduction amount is $1,500 per qualifying individual. The tax deduction is subject to a few limitations based on the type of income, trade, or business you are in, and the amount of net income you earn. Mattie, age 18, has income as follows: $600 cash dividends from investing in stock and $4,700 from working as a lifeguard at a local pool. Buy PPE for lifeguards online through The Lifeguard Store today. Rule #6: Gifts under $4 are exempt from the client gift limit. Lifeguards must be prepared to respond quickly and effectively to emergencies, administer first aid or CPR when necessary, and coordinate with other staff members or emergency services as needed. d. Post-Submission Answers: $12,550; $5,050; $1,150; $1,100; $5,250. 83% to. ) The taxpayer must file a separate tax return from the spouse. $392,600 c. Many older taxpayers may find that their standard deduction plus the. . If you are 65 or older and blind, the extra standard deduction is $3,700. It also covers the rules for compensating employees for travel time, on-call time, and training. Phone, data and internet expenses. 45% of your taxable military pays. 1. Check our list below for the tax deductions you are allowed to claim. $12,950 for single taxpayers and married taxpayers who file separately. $182,950 For each of the following cases, indicate the filing status for the taxpayers) for 2010 using the following legend: A - Single B - Married, filing a joint C - Married, filing separate returns D - Head of household E - Qualifying widow(er) a. Certain taxpayers, however, are not allowed to claim any standard deduction, and the standard. See the full article for a list of deductions you can take. $4,005; Third Year. “We have raised wages at all. Rule #3: You need to track your business gifts. They’ll expire in 2025 unless Congress moves to keep some or. Problem 3-30 (LO. The standard deduction for taxpayers who don't itemize their deductions on Schedule A (Form 1040) is higher for 2022 than it was for 2021. Study with Quizlet and memorize flashcards containing terms like In 2019, George is 21 years old. Teamwork. Guards and security employees guide to income, allowances and claiming deductions for work-related expenses. For 2023, it's been raised to $0. Generally, personal interest you pay, other than certain mortgage interest, is not deductible on your tax return. items that cost $300 or less and don't form part of a set you can claim an immediate deduction. The Bottom Line. There is a wide range of deductions you can claim as a guard or security employee, such as: Car expenses if you have to drive between jobs during your work day (for example, from your security day job at a warehouse to your night job as a bouncer at a nightclub) The cost of buying, repairing and cleaning any clothing items that are distinctive. I. For tax year 2023, if you're married and filing jointly, you'll have a standard deduction of $1,500 more per qualifying spouse than younger taxpayers. $_____ fill in the blank 1 B. Lifeguards must work as a team to calmly and efficiently manage potential crisis situations and help ensure the safety of all visitors. Certain credits may give you a refund even if. One of the doors will guide you to freedom and behind the other is a hangman–you don't know which is which, but the guards do know. If you're a freelancer, don't miss out on these important business deductions that may. At $0. So if you make $10,000, you’ll need to pay $1,530 in self-employment tax. These include: Bad business debts Advertising costs Legal and professional fees Rental fees Transportation costs Self-employed security specialists are required to pay self. For 2018, the maximum elective deferral by an employee is $18,500, and for the 2019 tax year this is. Disaster relief. Some are offering free training, which takes 25 to 40 hours. Interactive Brokers . The program includes courses for a 2-year lifeguard certification and a 2-year first aid and CPR/automated external defibrillator certification and can be completed through 26. What is George's taxable income for 2019?, In 2019,. Special rules may lower the tax they owe or allow them more time to file and pay their. Brett's standard deduction for the year is $1,100, and Abby's is $2,450. This includes: Disposable or reusable gloves; Disposable or reusable face masks If you receive a very large bonus—over $1 million—you'll likely have 22% federal tax withheld on the first million, then 37% on the amount of the bonus above the first million. The COVID-19 outbreak has placed greater focus on the importance of PPE for frontline health workers and anyone working in a job that requires close human contact, and all occupation specific clothing or equipment required for these roles is eligible as tax deductions. Call 1-800-Red-Cross to learn more about the best lifeguard training available in the nation. Here are 17 tax deductions for actors, musicians, and other performers you should be keeping track of throughout the year. So if you made $50,000 of taxable income in 2022 but you qualify for $3,000 in. 5 percent of your adjusted gross income are deductible. In 2011, Jill had $7,400 of income, which consisted of $6,000 in wages earned during the summer as a lifeguard, and $1,400 interest on a savings account. With this, the maximum amount you can pay to a social security is $8,853. California State Tax 2022-2023. Jason, age 16, has income as follows: $675 interest on a bank savings account and. S. This maximum limit of Rs. Curtis, age 18, has income as follows: $700 interest from a certificate of deposit and $12,600 from repairing cars. The standard deduction for 2020 is $12,400 for individuals and $24,800 for married people filing jointly, up from $12,200 and $24,400, respectively,. The limit for appreciated assets in 2022 and 2023, including stock, is 30% of your AGI. A tax deduction reduces your adjusted gross income or AGI and thus your taxable income on your tax return. The cost of pregnancy tests can be deducted, even without physician administration. You can use it to pay for courses at a college, university, or trade school. Op. If you incur high medical costs for a dependent (or yourself), you may wish to compare the potential value of itemizing versus claiming the standard deduction. Mattie, age 18, has income as follows: $600 cash dividends from investing in stock and $4,700 from working as a lifeguard at a local pool. Contributions must be made to a qualified organization. 45% of your taxable military pays. a. WASHINGTON — The Treasury Department and Internal Revenue Service today issued proposed regulations related to the increased tax credit or deduction amounts for clean energy facilities and projects if taxpayers satisfy certain prevailing wage and registered apprenticeship (PWA) requirements. Work clothes that aren’t deductible. A standard deduction is a simpler, easier-to-use alternative to itemized deductions, in which you calculate and list specific expenses, such as mortgage interest, medical expenses, or charitable. 🩺 Medical supplies Write it off using: Tax deductions for security specialists If you work in security or asset protection or as a correctional officer, the money you make providing security services may be considered income from self-employment. This is the case even if you're required to pass medical examinations and fitness tests to maintain your employment. See Deductions of More Than $500,000, earlier. The amount depends on your filing status. tax chapter 8. Deduction under section 80E against aggregate income (gross total income) Interest schedule from the bank or financial institution: Standard deduction and staff benefits from the employer: Apart from the above tax exemptions and deductions claimed by an employee, the employer also allows a standard deduction to every employee. Carrying charges, interest expenses, and other expenses. So if you made $50,000 of taxable income in 2022 but you qualify for $3,000 in tax deductions, the IRS will only tax $47,000 of your income. For the 2023 tax year, the standard deductions are: Single or married filed separately: $13,850. The Idaho Residential Alternative Energy Tax Deduction is a deduction at the state level that reduces a homeowner’s taxable income by 40% of the system’s cost (maximum of $5,000) for the first. Because their income is the same, what causes the difference in the amount of the standard deduction?, Compute the 2021 standard deduction for the following taxpayers. Beginning January 1, 2023, the credit becomes equal to the lesser of 30% of the sum of amounts paid for qualifying home improvements or the annual $1,200 credit limit. The Tax Cuts and Jobs Act (TCJA) made a lot of changes to the tax code when it went into effect in 2018. The mileage deduction is calculated by multiplying your yearly business miles by the IRS’s standard mileage rate. The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700 up $1,800 from the prior year. To qualify for caregiver tax deductions and credits, the person you are caring for must be a United States citizen or resident of the U. Tax deduction savings. Example: If you received a $2 million bonus, you'd pay $590,000 in federal tax withholding: $1,000,000 x . If you claim a deduction of more than $500 for an article of clothing, or a household item, that is not in good used condition or better, you must attach the appraisal. The $1,800 of medical expenses from 2022 can be included on the decedent's final return for 2022. 5% of your adjusted. R. Joe is a self-employed writer and had $60,000 in self employment income in 2022. sleep away from your home overnight in the course of performing your employment duties. In tax law, a standard deduction reduces the taxable portion of your income by a fixed dollar amount, lowering your overall tax liability. ) The taxpayer must be legally separated from their spouse. A handbag you purchase specifically for work related purposes is just one of the items on our list of surprising tax deductions you might be able to claim. lifeguard, Daniel Douglas, made $510,283. Publication 5137 (Rev. The best way to eliminate any doubt about the proper tax treatment of. Jill’s gross income is: D. Some of the jobs where this happens are for lifeguards, tradies, construction workers, farmers, and road workers. 625 for the second half . Accounting questions and answers. Most H1B visa holders pay between 20-35% of their income. He has to pay 15. The ATO accepts sun protection tax deductions for sunglasses where a worker is exposed to the sun during their work day. When baby boomers are retiring, there's a special tax credit you'll want to ensure you. 34(l), encompasses the duties of rescuing swimmers in danger of drowning, the monitoring of activities at a swimming pool to prevent accidents, the teaching of water safety, and providing assistance to patrons. Increased Standard Deduction. Tax Deduction. Charitable contributions must be claimed as itemized deductions on Schedule A of IRS Form 1040. “We have raised wages at all. Tax filing deadline: April 15, 2024, is the big tax deadline for all federal tax returns and payments. A tax deduction decreases your taxable income. Grab your shades, sunscreen and whistle. Tax filing deadline: April 15, 2024, is the big tax deadline for all federal tax returns and payments. In order to be able to deduct the cost of recertifying your various awards, you must be employed and your employment contract must state (in some language or the. The maximum deduction is increased to $600 for married individuals filing joint returns. Amount can not exceed the basic deduction plus. 1. 5 percent gives you $3,750. The amount depends on your filing. He earned $4,200 at a summer job. If you are a security specialist who owns their own business or work on your own, you'll be considered self-employed. 21 Tax Write-Offs for Independent Lifeguards. This problem has been solved! You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The standard deduction allowed for 2020 is $1,100 for dependents, except for widows who are over 65 years old, who have a higher standard deduction. Credit for excess Social Security and RRTA tax withheld. 45% of your taxable military pays. A new congressional report estimates that 18 million households will itemize deductions this year, down from 46. Choose a local lifeguard certification program. The greater is $700 + $350=$1,050. Lifeguards are trained in swimming and. 00 per hour, while more experienced lifeguards can earn up. The EO does not generally have to withhold or pay any taxes on payments to independent contractors. Beaches were busy and this year is challenging too, with lifeguards set to patrol over 240 beaches. Enter the Lifetime Learning Credit. F. 49. Brett's standard deduction for the year is $1,100, and Abby's is $2,450. The standard deduction amount for the 2022 tax year jumps to $12,950 for single taxpayers, up $400, and $25,900 for a married couple filing jointly, up $800. b. g. Sam's standard deduction for the year is $1,100, and Abby's is $7,970. 3% of net earnings and contributes to Medicare and Social Security. Get in touch with our friendly customer service team members. You're still entitled to deductions of expenses, however you won't receive a W-2. Most of their learning happens on the beach, but part of their training takes place. Jill's gross income is: Jill's standard deduction is:The changes to dependent care benefits under the American Rescue Plan Act of 2021 have expired. A tax deduction—or tax write-off —refers to any business deduction the IRS allows to lower your taxable income. Commissioner - Exotic dancer Chesty Love challenged the IRS in Tax court and won. 1. 1. Temporary 100% deduction of the full meal portion of a per diem rate or allowance. You can claim tax deductions and exemptions if your loved one is a spouse, dependent child or step-child, a parent or stepparent, father-in-law or mother-in. In addition, the. The city’s lifeguard requirements are similar to those at state-run beaches in Long Island, where lifeguards must be able to swim 100 yards in 75 seconds or less to prove they have the strength. So if you make $10,000, you’ll need to pay $1,530 in self-employment tax. Rule #2: Gifts to clients must be under $25 per person, per year. Tip #2. Study with Quizlet and memorize flashcards containing terms like Sam and Abby are dependents of their parents, and each has income of $7,620 for the year. In addition he had $10,000 interest from a savings account. Protective eyewear includes prescription sunglasses, photochromatic and anti-glare glasses. Mileage calculation provided by the Australia Taxation Office - 78 cents per kilometre from 1 July 2022 for the 2022-2023 income year. Mileage: Keep track of all your business-related trips. You can’t deduct both. Prison officers may also be entitled to general tax deductions that are not work specific, such as investment deductions or car expenses deductions. ambulance crews, probation officers, forestry workers, lifeguards and others. In addition, Loretta wins a rescue contest and receives a municipal bond worth $550. A tax deduction decreases your taxable income. A tax deduction isn’t as simple. Service & Emotional Support Animal Tax Deduction. If you receive a very large bonus—over $1 million—you'll likely have 22% federal tax withheld on the first million, then 37% on the amount of the bonus above the first million. 5. Deductions for the cost of a working with children check if you currently work with children. $2,174; Second Year. A personal aquatic survival skill lets a person survive and/or be safe in the water. Income and allowance amounts you need to include in your tax return and amounts you don’t include. While most single taxpayers get $6,200, single taxpayers older than 65 get an extra $1,550. 5% of your adjusted gross income (AGI) to qualify for a deduction. ) The taxpayer must furnish more than half the cost of maintaining the household, b. The standard deduction for 2023 has been increased for all filers and is: Single or Married Filing Separately—$13,850, up $900 from 2022. If you're filing single or head of household, the increase is $1,850. For 2022, that’s $0. In each case, assume that the taxpayer is claimed as another person's dependent. For example, if you pay $1,530 in self-employment tax, you will be able to reduce your taxable income by. AARP successfully fought to keep the deduction threshold from rising to 10 percent, and now the 7. Alan is a 23-year old student at Upper State College. Life insurance policy owned by an employee. Disaster relief. Credit for excess Social Security and RRTA tax withheld. Losing Weight. Keep reading for a comprehensive list of write-offs that most security professionals can claim to save money on their taxes. 531. Again, you can deduct state income taxes that are paid, but the write-off is limited to up to $10,000, which includes all deductible state and local taxes. 20. Travel expenses. Here are 17 tax deductions for actors, musicians, and other performers you should be keeping track of throughout the year. items that cost $300 or less and don't form part of a set you can claim an immediate deduction. Mattie, age 18, has income as follows: $600 cash dividends from investing in stock and $4,700 from working as a lifeguard at a local pool. Her itemized deductions for 2011 were $400. Sandra gives cash to her church. IR-2023-156, Aug. The standard deduction is the sum of two components: the basic standard deduction and the additional standard deduction. This worksheet allows you to itemize your tax deductions for a given year. safe entry and exit from the water. Because he earns over $3,950 his parents cannot claim him as a dependent on their return. Uniform for lifeguards Write it off using: Schedule C, Box 27a Expenses related to the. Contributions to a qualified retirement plan such as a traditional 401 (k) or 403 (b). You are a prisoner in a room with 2 doors and 2 guards. A deduction for other payroll taxes paid by the employer on the employee's behalf would need to be authorized in writing by the employee. You can also claim the cost of repairing and insuring tools and equipment if need be. A tax deduction is an expense you can subtract from your taxable income. Some lifeguard training courses teach you to work in various settings, while others expand on skills for specific. To get the deduction, you must be working. There are a variety of programs available that provide different types of training depending on a lifeguard's. 50. Understand how the income percentages work. These are the standard deduction amounts for tax year 2022: Married couples filing jointly: $25,900, an $800 increase from 2021. Determine the amount of the standard deduction allowed for 2020 in the following independent situations. Labor Code § 4850 provides first responders and public safety officers with up to 1 year (52 weeks) of their full salary when they are injured on the job and placed on temporary disability. While tax deductions lower your taxable income, tax credits cut your taxes dollar for dollar. ) The deduction for your $5,000 carryover is subject to the special 30% limit for contributions of capital gain property. Secret Union Dues Scheme Has Been Illegal for 45 Years Marshall, Savas, and their fellow lifeguards are now petitioning the Supreme Court of the United States to hear their case, arguing CSLEA bosses’ restrictive arrangement even. c. Similar to 2022, cash contributions in 2023 can make up 60% of your AGI. The social security rate in 2021 is 12. As such, the following are beyond the scope of this report: the different treatment of deductions under the alternative minimum tax for individuals,1 tax deductions for businesses under the individual income tax code,2 andUnder the plan, the county will use tourist development tax money to pay 20% of the staff cost of the lifeguards, or $709,654 a year. As a result, for tax year 2023, an unmarried filer with taxable income of $95,000 will have a top rate of 22%, down from 24% for the same amount of income in 2022. Married Filing Jointly or. So, a $1,000 tax credit cuts your final tax bill by exactly $1,000. Expenses related to the purchase of swimming suits, t-shirts, and other uniform items that are required for the job are tax-deductible. For your work clothes to qualify as a tax deduction, they have to be actively unsuitable for everyday wear. The total cost of Los Angeles County lifeguards’ pay and benefits came to more than $57 million, and the highest-earning L. You’ll need to complete Schedule 1 and Form 2106 to claim this deduction. Curtis, age 18, has income as follows: $700 interest from a certificate of deposit and $12,600 from repairing cars. Other employers are raising hourly pay to $10 to $30. The American Red Cross offers premier lifeguard training during which candidates gain the knowledge and skills to prevent, recognize and respond to emergencies in and around the water. Jason, age 16, has income as follows: $675. $2,174; Second Year. 1. Net Income. Total tax Deductions on our Pool. Cardiopulmonary Resuscitation (CPR) CPR for Healthcare Providers. In each case, assume that the taxpayer is claimed as another person's dependent. If your startup expenses exceed $50,000, the total deduction will be reduced by however much your expenses exceed $50,000. Business equipment and supplies. Compute Megan's 2014 exemption deduction if her AGI is: a. When you make state and local tax payments, including sales tax, real estate tax, property tax, and local and state income tax, these are generally deductible from your federal income. Fees paid to a registered tax agent (like H&R Block) for preparation of your return, amendments and generally handling your tax matters are all deductible. Charitable giving tax deduction limits are set by the IRS as a percentage of your income. For 2020, the charitable limit was $300 per “tax unit” — meaning that those who are married and filing jointly can only get a $300 deduction. 22 = $220,000 tax withholding on first million. Taylor's taxable income for 2020 is $1,210. Many older taxpayers may find that their standard deduction plus the. 70). Lifeguards adapted quickly to new PPE and new ways of working, to keep themselves and the public safe. Lucy, age 15, has income as follows: $400 cash dividends from a stock investment and $500 from grooming pets. For 2022 returns, the standard deduction is $12,950 for single filers, $19,400 for head of household, and $25,900 for married taxpayers filing jointly. Sam's standard deduction for the year is $1,100, and Abby's is $7,970. Feedback Check My Work The standard deduction is the sum of two components: the basic standard deduction and. com. 2)Determine the amount of the standard deduction allowed for 2023 in the following independent situations. Tax credits are beneficial on your tax return because they reduce your tax bill dollar for dollar. Fact Sheet #17J: First Responders and the Part 541 Exemptions Under the Fair Labor Standards Act (FLSA) Revised September 2019. 5%pa (if in a rental property). ☀️ Sunscreen & protection Write it off using: Schedule C, Box 27a You can write off items you use for sun protection on the job, like specialized hats and sunscreen. Your Guide to 2021 Tax Deductions. $19,400 for heads of household. Certain taxpayers, however, are not allowed to claim any standard deduction, and the standard. The Standard Deduction and Personal Exemptions. $25,100 for married couples filing jointly. 16, 2023 — The Internal Revenue Service today reminded individual retirement arrangement (IRA) owners age 70½ or over that they can transfer up to. State and local taxes deduction. Wi-Fi bill. a. You can also claim travel to your registered tax agent (you are limited per income tax return to 5,000km in total across the entire return if claiming the c/km method). Startup costs. Only the remaining amount is deductible. Low commission rates start at $0 for U. Standard deduction 2023. c. For the 2017 and 2018 tax years, qualified medical expenses that are more than 7. This usually only applies when the move is due to a permanent change in station. Deductions you can and can't claim for expenses you incur to earn your income or performing your work. If your employer pays your premiums, those amounts could be deductible for. Mattie, age 18, has income as follows: $600 cash dividends investing in stock and $4,700 from working as a lifeguard at a local pool. – Dry cleaning of uniforms unfit for washing. Amount of theStandard Deduction a.