The standard deduction has been super-sized for seniors. Thanks to provisions in the One Big Beautiful Bill Act, taxpayers 65 and older can claim an additional $6,000 without itemizing their ...
The standard deduction is set to climb again for the 2025 tax year, with married couples filing jointly able to shield $31,500 of income from federal income tax. That higher threshold will shape how ...
Older taxpayers now have access to some of the most generous standard deduction rules on record, and the stakes are high for anyone trying to stretch retirement income. The federal tax code offers an ...
Christian Allred has been a professional writer since 2020. He's written for some of the industry’s top brands and publications, including Rocket Mortgage, PropStream, Propmodo, and CRE Daily.
Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.
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