Here are some IRS tax changes for 2025
Federal Tax Brackets for 2025 vs. 2024
Standard Deduction amounts 2025 vs. 2024
Married couples filing jointly $29,200 (2024) – $30,000 for 2025
Single taxpayers and married filing separately $14,600 (2024) – $15,000 for 2025
Head of Household $21,900 (2024) – $22,500 for 2025
Additional standard deduction for over 65 or blind $1,600
Capital Gain Rates for 2025
The Foreign-Earned Income Exclusion
Raised to $130,000 for 2025, was $126,500 in 2024
Qualified Charitable Distribution limit
You must be older than 70 ½ to be eligible where a Donation from your retirement plan can be made directly to a Qualified Charitable Organization.
The limit for 2025 is $108,000 (per person), is was $105,000 for 2024.
Net Investment Income Tax
(3.8% tax on interest, dividends, and capital gains that make the Modified Adjustable Gross Income exceed these amount). No change from 2024 to 2025.
Standard Mileage Rate for 2025
Starting 1/1/2025 the standard mileage rate will be 70 cents per mile, 67 cents in 2024.