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To help make up for this, congress created a bonus tax deduction of $6,000 for individuals and $12,000 for couples 65+ The deduction phases out for higher income earners. We are eager to help you build a brighter financial future For 2025, a person can gift up to $19,000 without having to file a gift tax return or paying gift tax
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Here are some of the highlights The standard deduction for single filers increases to $15,000 from $14,600 For married filing jointly the standard deduction increases to $30,000 from $29,200 Tax bracket thresholds increased about 2.8%
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Most people have their social security automatically deposited in a checking account Ssa will take back the.
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