Changes In Deductions And Credits In 2024. While deductions are also useful, credits offer the advantage of cutting your. For 2023, the standard deduction amount has been increased for all filers.

Here are some key irs tax changes for 2024 affecting small businesses, from standard deductions to tax rates with over 60 tax provisions. As tax season approaches, you could save money on your tax bill or get a bigger refund thanks to federal tax credits.