With the passage of the One Big Beautiful Bill Act or OBBBA, many of the temporary tax laws set to expire at the end of 2025 have been made permanent. This week’s tip summarizes the changes to several of the more popular deductions and credits, while the tax tips over the next few weeks will cover individual topics to help you understand how the major changes may impact you and your situation.

For individuals

Many temporary tax provisions are made permanent

This includes:

Tax rates: the higher tax rates expected next year will not occur.

Higher standard deduction: There is a slight increase in these levels for 2025. They are:

$31,500 Joint

$23,625 Head of Household

$15,750 all others

Elimination of personal exemptions: This is now permanent.

Elimination of most miscellaneou

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