Congress has made multiple changes to the tax code in 2025
- Tips, Overtime, and car loans are deductible.
- These show up on line 13b of your 1040 tax return
- There's a $6,000 deduction for individuals 65 and older.
- The standard deduction has been increased.
- Tax brackets have been increased.
- In addition, taxes were withheld based on the previous tax code.
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