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Miscellaneous

     The federal exemption has been raised to $3,000 for 2002 and is expected to increase to $3,050 for 2003.  The Ohio exemption has been raised to $1,200 for 2002.

     The standard deduction for married taxpayers filing a joint return is raised to $7,850, for married filing separate returns is raised to $3,925, and for single taxpayers it is raised to $4,700.

(November, 2002 Newsletter)


James E. Newland, CPA

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Eastlake, Ohio 44095

440-951-9799

Service@NewlandCPA.com

 

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