Population Demographics for Sherman County, Texas in 2016 and 2015.
Additional amounts are available for persons who are blind and/or are at least 65 years of age. The standard deduction is distinct from personal exemptions, which also are available to all taxpayers and dependents.
Most people who file, roughly two-third take the standard deduction instead of itemizing, said Chris Woehrle, assistant professor of taxation at The American College of Financial Services. The standard deduction is a fixed amount that the Internal Revenue Service will knock off your taxes with no questions asked. For tax year 2013, the standard deduction is $6,100 if you're single or filing separately from your spouse. The standard deduction for those married and filing jointly is $12,200. If you have deductions (supported with proper documentation, of course) that top these amounts, then it makes sense to itemize your return.