With 2025 right around the corner, Dr. Friday breaks down the new standard deduction amounts for every filing status.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
Getting prepared for 2025. Let’s talk about our standard deductions. Married filing jointly and surviving spouses: $31,500, up about $2,300 from 2024. Single and married filing separately: $15,750, up about $1,150.
And head of household: $23,000. If you’re over the age of 65, there will be some additional deductions that you’ll be able to claim.
But the important number is if you had your standard deduction prior to the OBBB, you’ll see that they’ve gone up again. So it’s important to stay on top of your tax questions—and also your tax answers.
615-367-0819.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.