by A Chromczak CPA | Oct 27, 2025 | Tax Law
FS-2025-03, July 14, 2025 Note: This Fact Sheet has been updated July 25 by adding to the section on “No Tax on Car Loan Interest” new language describing the requirement for “Final assembly in the United States.” Below are descriptions of new...
by A Chromczak CPA | Oct 27, 2025 | Tax Law
Standard Deduction The basic standard deduction amounts increased for 2025. Single or Married Filing Separately$15,750Head of Household$23,625Married Filing Jointly, Qualified Surviving Spouse$31,500 Senior Deduction Deduction, per person (age 65 or older)$6,000...