A few of the upcoming tax law changes for 2025 include:
Rise In Standard Deductions
For married couples filing jointly, the standard deduction increases to $30,000, up $800 from tax year 2024. For heads of household, it is $22,500 for tax year ...
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Taxes
BOI Reporting
The current requirement to report your company’s beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN) is currently voluntary while the courts debate it. If and when the injunction is lifted, you will be required ...
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Is My Social Security Taxable?
The answer is YES. Maybe. For federal tax purposes, it depends on your other income in addition to your social security benefits. Total income includes wages, self-employment income, interest, dividends and any other taxable income.
For single ...
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