The standard deduction for tax returns is now $31,500 (married filing jointly), $15,750 (single), and $23,625 (head of household).
If you are 65 years old, you will qualify for an additional $6,000 deduction. In fact, seniors can wind up with standard deductions as high as $23,750 (single) / $46,700 (married).
More people will be able to itemize their tax deductions this year. The SALT (state and local tax) deduction had been limited to $10,000 since 2018. The cap has now been lifted to $40,000, but only for 2025-2029.
If you bought a new car in 2025 that had final assembly in the USA, you can deduct the interest up to $10,000.
Overtime pay can be deducted for 2025. If regular pay was $40/hour, overtime would be $60/hour. The extra pay ($20/hour) would be deductible from income, with a cap $12,500/$25,000.
Up to $25,000 of tips can be deducted from income for 2025.
The child tax credit is now $2,200.
Starting in 2026, you can deduct up to $1000/$2000 for charitable contributions, even if you take the standard deduction.
High Point Tax Resolution 
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