The One Big Beautiful Bill
And Your 2025 Tax Return
It's important to understand how the changes will effect your 2025 tax return. Contact us now to have one of our experts evaluate your current tax situation to see if you qualify for any additional credits and deductions on your tax return
NO TAX ON OVERTIME???
Taxpayers may qualify to receive a deduction of up to 12,500 on their tax return beginning in the tax year 2025.
CHANGES TO THE CHILD TAX CREDIT
Increased amount of child tax credit from $2,000 to $2,200
ELECTRIC VEHICLE CREDITS
As of September 30, 2025 taxpayers are no longer able to claim the Electric Vehicle Credit
NO TAX ON TIPS???
Taxpayers may qualify to receive a deduction of up to $25,000 per taxpayer on their tax return beginning in the tax year 2025.
CHANGES TO THE STANDARD DEDUCTION
Increased standard deduction to $15,750 for Single filers, $23,625 for Head of Household filers, and $31,500 for Married Filing Jointly filers
NEW VEHICLE INTEREST DEDUCTION
Taxpayers may be able to deduct up to $10,000 of interest on a personal vehicle purchased in the year 2025