If I'm married filing joint, and I am an independent contractor and I don't claim any business expenses do we automatically get the standard exemption of $24,000?

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Yes, your business expenses have nothing to do with the standard deduction, so it does not matter what you claim for the business expenses, the standard deduction will be $24,000.

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If my wife and I made $70,000.00 jointly in 2024, and I sold a house in which $487,500.00 was taxable. What would my tax rate be on the sale of the house?

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If I'm married filing joint, and I am an independent contractor and I don't claim any business expenses do we automatically get the standard exemption of $24,000?

If I'm married filing joint, and I am an independent contractor and I don't claim any business expenses do we automatically get the standard exemption of $24,000?

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If I'm married filing joint, and I am an independent contractor and I don't claim any business expenses do we automatically get the standard exemption of $24,000?

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If I'm married filing joint, and I am an independent contractor and I don't claim any business expenses do we automatically get the standard exemption of $24,000?

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