What are some tax “things” I should know about for the individual?

Several common tax “things” to be aware of include:

  • The FICA wage base for 2019 and 2018 is $132,900 and 128,400, respectively
  • The standard deduction amounts for 2019 and 2018 are as follows:
    • Married filing joint – $24,400 and $24,000
    • Head of household – $18,350 and $18,000
    • Single – $12,200 and $12,000
    • An additional $1,300 standard deduction is available for taxpayers who are blind or age 65 or older. In 2019 single taxpayers receive a $1,600 additional standard deduction.
    • The business mileage rate for 2019 and 2018 is 58 cents and 54.5 cents a mile, respectively.
    • Per diem reimbursement for travel is found on the GSA.gov website and is now based on zip codes. Post September 30, 2018, the per diem rates for Fargo is $94 a day for lodging and $55 for meals and incidentals. For Minneapolis it is between $151 and $135 a day for lodging depending on time of year and $76 a day for meals.