When you turn 65, does your tax bracket change?

Your tax bracket is calculated based on your Adjusted Gross Income, deductions and exemptions. Tax payers over age 65 get a higher standard deduction. For 2011, the additional amount that you can subtract from your income is $1,450 for a single filer or $1,150 for a married filer. If you itemize deductions, you don't get the additional amount. Once you add your income, subtract deductions and exemptions, you will have your Taxable Income. Your tax bracket is determined by this number. So it is possible that you can be in a lower tax bracket when you turn 65.