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The standard deduction for tax year 2025 increases to $15,000 for single taxpayers and $30,000 for married couples filing jointly. See other changes and updates to tax provisions, rates, exemptions and credits for 2025.

The standard deduction amounts for 2025 will increase to $15,000 for individuals and married couples filing separately, and $30,000 for married couples filing jointly. The additional standard deduction amount for the aged or the blind is $1,600, and the standard deduction amount for a dependent is $1,350 or the sum of $450 and the individual's earned income.

Learn how to claim the extra standard deduction for people 65 and older, which can reduce your taxable income and save you money. Find out the deduction amounts for 2024 and 2023, and how they vary by filing status and blindness.

Find out the standard deduction for your filing status in 2025, including the extra deduction for taxpayers 65 and older. Learn how the TCJA and inflation affect the standard deduction and compare it with the 2024 amounts.

Learn how to calculate your standard deduction if you are over 65 and/or blind for the 2024 and 2025 tax returns. See the additional standard deduction amounts for each filing status and how they change over time.

In this article, we'll look into what the standard deduction entails for individuals over 65 in 2024 and 2025, how it differs from standard deductions for younger taxpayers, and strategies for maximizing tax savings.

The 2025 standard deduction is increased to $30,000 for married individuals filing a joint return; $22,500 for head-of-household filers; and $15,000 for all other taxpayers. If you are age 65 or older, you may increase your standard deduction by $2,000 if you file Single or Head of Household.

Find out the standard deduction amounts for different filing statuses and the additional standard deduction for the blind and those age 65 or older in 2025. Also, see the contribution limits and phaseout ranges for IRAs and employer-sponsored retirement plans.

1 A married filer who is blind or over age 65 can claim an additional $1,600. Two married filers who are both over age 65 or blind can claim $3,200, up $100 from 2024. 2 Single or head-of-household filers who are blind or over age 65 can claim an additional $2,000 standard deduction, up $50 from 2024.

The tax changes for 2025 include inflation-based adjustments to the standard deduction, certain tax credits, and contribution limits for retirement accounts. ... saving for retirement with an IRA (traditional or Roth), the contribution limits for those stays the same at $7,000 for 2025. If you’re over 50, ... residency and age.

Tax Deductions 2025 Standard Deduction: What You Need to Know ... If you're age 65 or older or legally blind, the IRS gives you a little more breathing room. Here’s how much more you can deduct: ... Married Filing Jointly: Add $1,300 per eligible person; Example: A married couple where both spouses are over 65 could take up to $32,600 as ...

For taxpayers over the age of 65, the IRS’s 2025 tax adjustments introduce critical changes that could significantly impact your financial outlook in the coming years. These updates, particularly the increased additional standard deduction, are designed to reduce taxable income and lighten the tax burden for older adults—a valuable ...

The IRS typically considers you a senior when you reach age 65. You're considered 65 for the entire tax year if your 65th birthday falls on or before the last day of the tax year. This means if you turn 65 on December 31, 2025, you qualify for senior tax benefits for all of 2025. The IRS counts you as 65 the day before your 65th birthday.

Find out the 2025 tax brackets, standard deduction amounts, and other adjustments for inflation. The standard deduction for people over 65 is $1,600 for each married taxpayer or $2,000 for unmarried taxpayers.

This article on standard deductions has been updated for the 2024 and 2025 tax years. The IRS has released its 2025 standard deduction amounts. Each year, the IRS adjusts standard deduction amounts for inflation (similar to its tax rate brackets, maximum 401K and maximum IRA contribution levels, etc.). With recent inflation levels, there are some noteworthy inflation adjustment increases over ...

The U.S. tax system recognizes that seniors over 65 may have unique financial situations. An extra standard deduction is available to help reduce their tax burden. This additional deduction aims to provide some financial relief during retirement. Seniors qualify for this deduction simply by reaching the age of 65 before the end of the tax year.

For heads of household, the standard deduction will be $22,500 for tax year 2025, up $600 from the amount for tax year 2024. Income rate brackets. For tax year 2025, the top tax rate is 37% for individual single taxpayers with incomes greater than $626,350 ($751,600 for married couples filing jointly). The other rates are:

Seniors over the age of 65 who file taxes can take advantage of an increased standard deduction in 2024 and 2025. ... For the current tax year, the standard deduction for seniors 65 and older is higher than the general deduction. Single or head of household filers receive an increase.

If you’re a single filer or head of household age 65 and over, you get an extra boost to your standard deduction. From $1,950 in 2024 (returns you’ll file soon in early 2025) to $2,000 in 2025 (returns you’ll file in early 2026).