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Home»Finance News»2025 tax brackets and federal income rates
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2025 tax brackets and federal income rates

October 28, 2024No Comments1 Min Read
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2025 tax brackets and federal income rates
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Rockaa | E+ | Getty Images

Federal tax brackets for 2025

Federal income tax brackets show how much you owe on each part of your “taxable income,” which you calculate by subtracting the greater of the standard or itemized deductions from your adjusted gross income.

Higher standard deduction

The standard deduction will also increase in 2025, rising to $30,000 for married couples filing jointly, up from $29,200 in 2024. Starting in 2025, single filers can claim $15,000, a bump from $14,600.

Trump’s tax cuts also included higher standard deductions, which will sunset after 2025 if Congress doesn’t extend that tax break. 

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See also  Home Buyers: Use High Mortgage Rates as an Excuse to Get a Lower Price
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