The answer depends on your household's overall tax situation. Here are highlights of areas that may impact your household:
- No tax on tips - deduction of up to $25,000 per taxpayer with phaseout for Modified Adjusted Gross Income (MAGI) over $150,000 (over $300,000 for Married Filing Jointly filers)
- No tax on overtime - deduction of up to $12,500 per taxpayer with phaseout for MAGI over $150,000 (over $300,000 for Married Filing Jointly filers)
- Additional senior deduction (2025 through 2028) - additional $6,000 deduction for taxpayers 65 and older with phaseout for MAGI over $75,000 (over $150,000 for Married Filing Jointly filers)
- Increased state and local tax (SALT) itemized deduction - increased to $40,000 (adjusted annually) for 2026 through 2029.
- Deduction for interest payments on certain vehicles - up to $10,000 deduction with phaseout for MAGI over $100,000 (over $200,000 for Married Filing Jointly filers)
- Increase in the standard deduction - increases the 2025 Standard Deduction to $15,750 for Single, $23,625 for Head of Household, and $31,500 for Married Filing Jointly filers. These amounts will increase with inflation each year.
Here are some resources you can check out:
Taxes 2025-2026: One Big Beautiful Bill Tax Law Changes and How That Impacts You
See How Tax Changes Impact You with the Tax Reform Calculator
One Big Beautiful Bill Act: Tax Deductions for Working Americans and Seniors
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