Tax Deductions 2025

Tax Deductions 2025. For single taxpayers and married individuals filing separately in tax year 2025, the standard deduction is rising to $15,000 โ€” up $400 from 2024. Revenue expenditure on scientific research pertaining to business of assessee is allowed as deduction (subject to certain conditions).


Tax Deductions 2025

2025 could be special in a way that the direct tax code 2025 [dtc 2025], touted to be the simplified version. In 2025, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (table 1).

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