2024 Tax Brackets And Standard Deduction. Redefined individual tax brackets that topped the individual tax rate at 37%, the elimination of personal exemptions and their replacement with higher standard deductions, a state and local income tax deduction capped at $10,000, a deduction for qualified business.  — the tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025.

 — the tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025. Social security wage base for 2024;