Hello client and friends,
Just a quick note that IRS rates and standard deductions have been released for 2025. Nothing too different or exciting....just the usual inflation adjustments.
As an example, a married joint couple with taxable income of $150,000 falls into the 22% bracket. For 2024, that bracket ranges from $94,301 to $201,050. For 2025, the 22% bracket ranges from $96,950 to $206,700.
There are also inflation adjusted standard deductions for 2025. For a married couple the standard deduction goes up from $29,200 for 2024 to $30,000 for 2025.
The potential "exciting" changes may come for 2026, as I previously wrote about https://www.kathrynbrunscpa.com/post/do-you-remember-the-2017-tcja
Happy Thanksgiving !
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