Tax Credits & Deductions
11 articles in Tax Credits & Deductions
12 min read
Standard Deduction 2025: Amounts and When to Itemize
2025 standard deduction amounts by filing status ($15,750 single, $31,500 joint), the new OBBBA senior bonus, and when to itemize instead.
Standard Deduction vs. Itemized: Which Saves You More Money?
About 91% of taxpayers take the standard deduction. Find out when itemizing saves more, with worked examples and the SALT cap change for 2025.
Child Tax Credit: How Much It's Worth and How to Claim It
The Child Tax Credit is worth up to $2,200 per child in 2025. Learn who qualifies, income phase-out thresholds, and how to claim the credit on your return.
Education Tax Credits: AOTC vs. Lifetime Learning Credit Compared
The AOTC is worth up to $2,500 per student; the Lifetime Learning Credit up to $2,000 per return. Compare eligibility, limits, and which one to claim.
Electric Vehicle Tax Credit: How to Claim Up to $7,500
The federal EV tax credit was worth up to $7,500 for new vehicles and $4,000 for used EVs. Here's who qualifies and how to claim it on 2025 returns.
Home Office Deduction: Who Qualifies and How to Calculate It
The home office deduction saves self-employed workers up to $1,500 (simplified) or much more using actual expenses. W-2 employees don't qualify.
Extra Standard Deduction for Seniors: How Much More You Get at 65+
Taxpayers 65+ get an extra standard deduction of $2,000 (single) or $1,600 (married) in 2025, plus a new $6,000 senior bonus. See how they stack.
Charitable Donation Deductions: Rules, Limits, and How to Maximize
Charitable donations are deductible up to 60% of AGI for cash and 30% for stock. Learn documentation rules, AGI limits, and the bunching strategy.
Medical Expense Deduction: The 7.5% AGI Threshold Explained
You can deduct medical expenses exceeding 7.5% of your AGI. Learn what qualifies, what doesn't, and when the deduction actually saves you money.
Earned Income Tax Credit (EITC): Who Qualifies and How Much You Get
The Earned Income Tax Credit is worth up to $8,046 in 2025. Learn EITC income limits, qualifying child rules, and how to claim the credit on your return.
Standard Deduction: Current Amounts by Filing Status and Age
The 2025 standard deduction is $15,750 (single) and $31,500 (married). See current amounts by filing status, age, and dependent status.