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.
For 2017, the additional standard deduction amount for the aged or the blind is $1,250. The additional standard deduction amount is increased to $1,550 if the individual is also unmarried and not a surviving spouse. For 2017, the standard deduction for a taxpayer who can be claimed as a dependent by another taxpayer cannot exceed the greater of (a) $1,050 or (b) $350 + the dependentâs earned income.