Teleios Financial Partners LLC

The IRS has released the 2025 tax brackets with a 2.8% inflation adjustment—the smallest increase in several years.

Here's what's changing:
➡️ Standard deduction for married couples filing jointly rises to $30,000
➡️ Single filers' standard deduction increases to $15,000
➡️ Annual tax-free gift limit grows to $19,000 per recipient
➡️ Estate tax exclusion reaches $13.99 million (up from $13.61 million)
➡️ Earned Income Tax Credit maximum increases to $8,046 for qualifying families

Understanding how tax brackets work remains crucial: you're only taxed at higher rates for income above each threshold, not your entire earnings. For example, if you're married filing jointly, you'll pay 10% on the first $23,850 of taxable income, then 12% on earnings above that amount.

Important note: Some provisions aren't changing in 2025, including the $10,000 SALT deduction cap and the $2,000 Child Tax Credit. ⚖️


Source:

IRS has announced its new 2025 tax brackets. Here's what to know. The IRS has adjusted tax brackets and dozens of other provisions for inflation. Here's how that will impact your taxes.

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