The tax code saw some important updates for 2025, with new deductions and credits designed to help working families, seniors, and service-industry employees. Below is a simple overview of what changed—and what it could mean for you when you file next year. 1. Standard Deduction Increases The standard deduction—what most taxpayers use instead of itemizing—has gone up again for 2025 : Single or Married Filing Separately:  $15,750 Head of Household:  $23,625 Married Filing Joint

The Beneficial Ownership Information (BOI) report is a regulatory requirement in the United States aimed at enhancing transparency...