2025 Tax Credits And Deductions

2025 Tax Credits And Deductions. For 2023, the standard deduction amount has been increased for all.  — a tax credit differs from deductions and exemptions, which reduce taxable income, rather than the taxpayer’s tax bill directly.

 — if your employer offers a 401 (k), it pays to maximize your contributions, especially if your employer matches them.  — there are tax benefits that can help taxpayers save money and offset some of the costs that come with homeownership.