Top Tax Deductions That Can Save You Money in 2025

Higher Standard Deduction for 2025

– Single Filers: $15,000 – Married Filing Jointly: $30,000 – Head of Household: $22,500 These increases reduce your taxable income and help you save more!

Save More with Retirement Deductions

– 401(k) Contributions: Up to $23,500 – IRA Contributions: Up to $7,000 Maximize your contributions to lower your taxable income.

Health Savings Account (HSA) Deduction

– Individual HSA Contribution Limit: $4,300 – Family HSA Contribution Limit: $8,550 HSA contributions are tax-deductible, and withdrawals for medical expenses are tax-free!

Charitable Contribution Deduction

Donations to qualified charities can be deducted from your taxable income. Ensure proper documentation for all contributions.

Save on Tuition with Tax Credits

The American Opportunity Tax Credit provides up to $2,500 for eligible education expenses. Check if you qualify to reduce your tax bill!