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somsai

(182 posts)

11. Increasing the standard deduction so most people don't itemize

Reply to MichMan (Reply #9)

Fri Oct 10, 2025, 08:31 AM

Oct 10

was one of the best recent changes. Getting rid of mortgage deduction, SALT deduction, tax free 401K matches from companies, tax free health insurance, would make things a lot more equal too. Basically, if you deduct, you make a lot of money.

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IRS releases 2026 income tax brackets with Trump law changes [View all] Yo_Mama_Been_Loggin Oct 9 OP

And 1.5% for incomes greater than $2M year AZJonnie Oct 9 #1

Just that last year your money went to the federal government... rubbersole Oct 9 #2

This message was self-deleted by its author bsiebs Oct 9 #3

From the link... MichMan Oct 10 #9

Increasing the standard deduction so most people don't itemize somsai Oct 10 #11

Raising the standard deduction was nice, but they got rid of the personal exemption ($4,050 for singles in 2017) progree Oct 10 #12

People should realize that the bracket changes do not and have not been keeping up with inflation progree Oct 9 #4

Assuming that CPI is more accurate than chained CPI. Igel Oct 9 #6

You the middle class will be supporting the wealthy with IRS agents being let go Stargazer99 Oct 9 #5

Now me and the missus can each afford a Big Mac once a month. . Just like our president. 3Hotdogs Oct 9 #7

wakie wakie hands off snakie Snoopy 7 Oct 10 #8

This is after the 0% standard deduction of $31,500 for married filing joint, plus $6000 for being old somsai Oct 10 #10

The 6k is in the Big Beautiful Bill LtTx Oct 10 #13

The One, Big, Beautiful Bill was signed into law July 4. The extra $6k senior deduction is effective in 2025 progree Oct 10 #14

Thanks! nt LtTx Oct 10 #15