As we gear up for the 2025 tax season, we’re excited to introduce our new newsletter series designed to help you stay informed of important tax changes, and prepared for planning opportunities. As a small, locally-owned firm, we value the trust you place in us. Our goal with these updates is simple: to keep you confident, up-to-date, and never guessing when it comes to your taxes.
What’s New for the 2025 Tax Season
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Updated Standard Deduction Amounts
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Married Filing Jointly (MFJ): $31,500
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Head of Household (HOH): $23,625
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Single / Married Filing Separately (MFS): $15,750
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Increased Child Tax Credit
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The CTC is now $2,200 per qualifying child.
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Raised SALT Limitation
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The SALT cap has increased to $40,000, subject to reduction by 30% of AGI over $500,000.
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Additional Deduction for Taxpayers Age 65+
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An extra $6,000 deduction is now available to individuals age 65 and older.
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Clean Vehicle Credits Ending Soon
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Credits for new, previously owned, and commercial clean vehicles will sunset for purchases after September 30, 2025.
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100% Bonus Depreciation
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Assets placed in service after January 19, 2025, now qualify for full 100% bonus depreciation.
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We’ll continue sharing updates like these—along with tips, reminders, and other helpful insights to make tax time easier. If you have questions about how these changes may affect your tax situation, we’re here to help.
Thank you for trusting tosa accounting & tax—we look forward to supporting you this year.
Warm regards,
Randy Lauer, CPA
Stacy Prowse, Office Manager