NEW DEDUCTION ALERT FOR SENIORS 

We love when the tax code gives our clients a reason to smile! If you’re 65 or older, this new deduction might brighten next year’s filing season. 

The IRS doesn’t hand out gifts often — but if you’re 65 or older, a new tax law just gave you one. 

Beginning with the 2025 tax year, individuals who are age 65 or older by December 31 will be eligible for an additional deduction — even if they take the standard deduction. 

Here’s what to know: 

Deduction amount: Up to $6,000 for single filers, or $12,000 for married couples when both spouses are 65+. 

Effective: Tax year 2025 (returns filed in early 2026). 

Income eligibility: 

Single (or head of household) — full deduction if MAGI ≤ $75,000, phases out above $75,000, fully gone at ~$175,000. 

Married filing jointly — full deduction if MAGI ≤ $150,000, phases out above $150,000, fully gone at ~$250,000. 

Duration: Applies through 2028 under the new law. 

This deduction is in addition to the existing extra standard deduction for seniors, meaning it can further reduce your taxable income and lower your 2025 tax bill. 

If you or a family member will be 65 or older in 2025, now’s a great time to plan ahead and make sure you take full advantage of this benefit. 

We’re here to help you understand how this change fits into your overall tax strategy. 

Contact our office if you’d like to review your 2025 tax planning options.