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Working Together on Project

50-Year Mortgages: A Risk Worth Taking or a Trap in Disguise?

The headline grabber: the Donald Trump administration is proposing a 50-year mortgage option as on potential relief valve in the U.S. housing-affordability crisis...

2025 Standard Deduction Amounts

Updated IRS Standard Deduction for the 2025 Tax Year

Below are the official standard deduction amounts taxpayers can claim for the 2025 tax year:
 

Filing Status                                                                              2025 Standard Deduction

Single                                                                                           $15,700

Married Filing Jointly                                                           $31,400

Head of Household                                                               $22,450

Married Filing Separately                                                   $15,700

Qualifying Surviving Spouse                                            $31,400

Additional 2025 Standard Deduction Amounts

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Category                                                                                      Additional Deduction (Each)

Age 65 or Older+                                                                     $1,550

Blind                                                                                              $1,550

65+ and Blind (combined)                                                  $3,100

 

For taxpayers who are unmarried and not a surviving spouse, the additional amount increases to $1,950.

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