File Your 2025 Return in 2026 – Key Takeaways for Individuals and Businesses
For Individuals
1. Higher Standard Deduction
$15,750 for single filers
$31,500 for married filing jointly
$23,625 for head of household
2. Extra Deductions for Workers & Seniors
Certain tipped income and qualifying overtime may be partially or fully excluded from federal taxes
Seniors (65+) may claim an additional $6,000 deduction
3. Expanded SALT Deduction Cap
Temporarily increased to $40,000, helping taxpayers in high-tax states
4. Child Tax Credit Support
Maintains or enhances credit amounts for qualifying children under age 17
For Businesses
1. Small Business & Pass-Through Benefits
Qualified Business Income (QBI) deduction is permanent and may be expanded
2. Bonus Depreciation & Equipment Write-Offs
100% bonus depreciation allows full deduction of qualifying property in the year it’s placed in service
3. R&D & Investment Incentives
Immediate deductions for research and development costs
Encourages investment in equipment, infrastructure, and clean energy projects
Planning Tips
Many benefits apply only through 2028, so consider timing for deductions and credits
Certain energy credits (solar, EVs, residential clean energy) expire after 2025, so act before year-end
Work with your tax advisor to maximize deductions and credits, and plan for business investments
Need Help?
AAG Tax & Accounting LLC is here to guide you through bookkeeping, payroll, and tax planning — making sure you take full advantage of 2025 tax benefits.