08/28/2025
🚨 2025 Tax Glow-Up: Before vs. After 🚨
📊 Standard Deduction
Before (2024): $14,600 (Single) | $29,200 (Married) | $21,900 (HOH)
Now (2025): $15,000 | $30,000 | $22,500
🍹 Tips Deduction (NEW)
Before: 0️⃣ (no break on tips)
Now: Deduct up to $25,000 in tip income (if you make under $150K)
💼 Overtime Deduction (NEW)
Before: 0️⃣ (all overtime taxable)
Now: Deduct up to $12,500 ($25K joint) in OT pay
🏡 SALT Deduction
Before: Cap at $10K
Now: Cap at $40K (phased out for high earners)
👴🏽 Senior Deduction
Before: $1,950 extra (65+)
Now: $6,000 extra (ages 65+)
🚗 Car Loan Interest (NEW)
Before: ❌ no deduction
Now: Up to $10K/year deductible on U.S.-assembled car loans
👶 Child Tax Credit
Before: $2,000 per child
Now: $2,200 per child (inflation-adjusted)
⚡ Clean Energy Credits
Before: Full credits for solar, EVs, charging, etc.
Now: Phase-outs begin in 2025 (reduced by 2027)
🔥 Translation: More deductions, bigger breaks for families & workers, and seniors win big. But some perks expire in 2028 ⏳