2024-2025 Standard Deductions & Extra Benefits for 65+

Tax season is around the corner, and understanding the standard deductions for 2024-2025 can save you money. Plus, individuals 65+ can benefit from extra deductions!

What Are Standard Deductions?

Standard deductions reduce your taxable income, lowering the amount you owe. In 2024, the standard deduction for individuals is higher, helping reduce your tax liability.

Extra Benefits for Those 65+

If you're 65 or older, you may qualify for an additional deduction on your tax returns. This can increase your standard deduction, giving you more savings at tax time.

Maximize Your Deductions with Jarrar CPA

At Jarrar CPA, we specialize in maximizing your tax returns. We help you understand and claim all available deductions, including the extra benefits for those 65+. Contact us today!