Reported about 9 hours ago
The 'Big, Beautiful Bill' brings significant adjustments to taxes for the 2025 tax year, raising standard deductions and expanding SALT deductions while eliminating clean energy credits. Single taxpayers will see a standard deduction increase of $750, heads of households by $1,125, and married couples filing jointly by $1,500. Additionally, the SALT deduction cap will rise to $40,000 for itemizers, while several clean energy credits will phase out by the end of 2025, urging taxpayers to act quickly on these savings.
Source: YAHOO