Standard deduction

Again, it depends on individual situations. Just because you weren't able to itemize, doesn't mean John Smith won't be about to either. There is a whole slew of items that you can itemize. Medical, charitable, certain taxes, casualty losses and theft...... so please do not make blanket statements that aren't even remotely accurate.

But regardless, the statement I made above is 100% accurate. The standard deduction is IDENTICAL for everyone thai files single. It is IDENTICAL for everyone that files married filing jointly,. And so on.....
It DOES NOT MATTER if you are an employee or are the president of the U.S. It's the freaking same amount.

 

People can't come to this web site and expect to get tax information other then general information. You do get a 20%pass through tax if your an O/O.

All the other stuff depends on your personal stuff. The term Standard Deduction for O/O does not really make any sense. You get to write off all your business expenses plus the new 20% pass through deduction.

If you listen to some guys you can take a vacation and if you do something related to the business you can write that day off. Do business stuff every day and you write the whole vacation off. So their is no Standard Deduction. Maybe the OP is looking for a list. That does not exist. You just write off you business expenses that you have proof of.

You can even do Per Diem as O/O it all part of your business expenses