{"id":1163,"date":"2025-08-01T16:17:24","date_gmt":"2025-08-01T16:17:24","guid":{"rendered":"https:\/\/belbolcpa.com\/blog\/?p=1163"},"modified":"2025-08-01T16:17:25","modified_gmt":"2025-08-01T16:17:25","slug":"the-new-standard-deduction","status":"publish","type":"post","link":"https:\/\/belbolcpa.com\/blog\/the-new-standard-deduction\/","title":{"rendered":"The New Standard Deduction"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"704\" height=\"496\" src=\"https:\/\/belbolcpa.com\/blog\/wp-content\/uploads\/2025\/08\/08-01-2025-iStock-2212344063.jpg\" alt=\"\" class=\"wp-image-1164\" srcset=\"https:\/\/belbolcpa.com\/blog\/wp-content\/uploads\/2025\/08\/08-01-2025-iStock-2212344063.jpg 704w, https:\/\/belbolcpa.com\/blog\/wp-content\/uploads\/2025\/08\/08-01-2025-iStock-2212344063-300x211.jpg 300w\" sizes=\"auto, (max-width: 704px) 100vw, 704px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>The One Big Beautiful Bill Act increased the standard deduction and added a new deduction for seniors as follows:<\/p>\n\n\n\n<p><strong>Updated Amounts<\/strong><\/p>\n\n\n\n<p>Married Filing Jointly &amp; Surviving Spouse: $31,500<\/p>\n\n\n\n<p>Head of Household: $23,625<\/p>\n\n\n\n<p>Single &amp; Married Filing Separately: $15,750<\/p>\n\n\n\n<p><strong>Additional Deduction for Seniors<\/strong><\/p>\n\n\n\n<p>There\u2019s a new additional deduction of $6,000 per person for taxpayers 65 and older. This is in additional to the current additional standard deduction for seniors under existing law. The deduction starts to get reduced if your modified adjusted gross income exceeds $75,000 or $150,000 for joint filers. This deduction is effective for years 2025 through 2028.<\/p>\n\n\n\n<p><em>If you know a business owner who can benefit from our services, then we would appreciate your referral.<\/em><\/p>\n\n\n\n<p><em>And if you like what you just read, then don\u2019t hesitate to forward to your friends, and\/or click \u201cLike\u201d on LinkedIn!<\/em><\/p>\n\n\n\n<p><strong>Make sure to subscribe to our weekly emails to receive practical business, financial and tax strategies! <\/strong><a href=\"https:\/\/www.belbolcpa.com\/newsletter-signup.htm?\"><strong>Sign Up Now!<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The One Big Beautiful Bill Act increased the standard deduction and added a new deduction for seniors as follows: Updated Amounts Married Filing Jointly &amp; Surviving Spouse: $31,500 Head of Household: $23,625 Single &amp; Married Filing Separately: $15,750 Additional Deduction for Seniors There\u2019s a new additional deduction of $6,000 per person for taxpayers 65 and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[287,2,7,8,285,12,15,18],"tags":[],"class_list":{"0":"post-1163","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-accounting","7":"category-budgeting","8":"category-expenses","9":"category-financial","10":"category-irs","11":"category-irs-resolution","12":"category-new-jersey-tax","13":"category-taxes","14":"entry"},"_links":{"self":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/1163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/comments?post=1163"}],"version-history":[{"count":1,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/1163\/revisions"}],"predecessor-version":[{"id":1165,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/1163\/revisions\/1165"}],"wp:attachment":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/media?parent=1163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/categories?post=1163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/tags?post=1163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}