Declared a 'national strategic industry' in the PRC, traditional Chinese medicine ('TCM') enjoys governmental support and is considered mainstream medicine in China, accounting for 21% of all medicine sold domestically.
Age: If you are age 65 or older, you may increase your standard deduction by $1,550 if you file single or head-of-household. If you are married filing jointly and you OR your spouse is 65 or older, you may increase your standard deduction by $1,200.
A standard deduction is an amount of money the IRS allows you to subtract from your AGI based on your filing status. If you itemize, you don't claim a standard deduction. In 2007, the standard deductions were. Single, or married filing separately: $5,350.