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IRS sets higher standard deduction, new tax brackets
Taxpayers will get bigger standard deductions in 2025, but with smaller boosts than recent years
U.S. taxpayers will again see higher standard deductions for 2025, allowing them to shield more of their money from taxation on future returns.
IRS sets higher standard deduction, new tax brackets for 2025
For 2025 tax returns, the standard deduction will increase by $400 from 2024 for single taxpayers and some who are married
IRS Announces Higher Standard Deductions for Taxpayers in 2025
While the top tax rate of 37 percent remains unchanged, it will now apply to individuals earning more than $626,350 for single taxpayers in 2025, up from $609,350 in 2024. More From Newsweek Vault: Rates Are Still High for These High-Yield Savings Accounts
Forbes
21h
2024 Year-End Tax Planning Strategies For Active Traders And Investors
Try to advance enough income to use the
standard
deduction
and take advantage of lower marginal ... The TCJA’s EBL and ...
CNBC
4d
How to claim the mortgage interest deduction
The maximum
deduction
includes the total amount of loans on your primary and secondary residences. The Tax Cuts and Jobs Act of 2017 nearly doubled the
standard
deduction
, from $6,500 to $12,000 ...
Tax Guru
4h
Deduction u/s 80P was allowable on interest and dividend income earned from Cooperative Banks
Conclusion: Since cooperative banks were considered cooperative societies for the purpose of Section 80P (2) (d), thereby ...
6d
Olympia City Council opposes initiatives that would roll back long-term care, capital gains tax
This time there was no council discussion and only two speakers on the initiatives during public comment before the council ...
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