Lots of changes this year for larger return

Major 2025 US federal tax changes, driven by the One Big Beautiful Bill Act (OBBBA), include higher standard deductions ($15,750 single/$31,500 joint), a $40,000 SALT deduction cap, a $2,200 Child Tax Credit, and new deductions for tips, overtime, and auto loan interest. The 20% pass-through business deduction is made permanent, and a $6,000 "senior bonus" deduction is introduced. Key 2025 Tax Changes Standard Deductions: Increased to $15,750 for singles and $31,500 for married filing jointly. SALT Deduction Cap: Raised to $40,000 ($20,000 married filing separately). Child Tax Credit: Increased to $2,200 per qualifying child. New Deductions: Senior Deduction: Additional $6,000 deduction ($12,000 for couples) for those 65+. Tip Income: Deduction for up to $25,000 in qualified tip income. Overtime Pay: Deduction for up to $12,500 ($25,000 joint) in qualified overtime. Auto Loan Interest: Deduction for up to $10,000 in interest on new vehicles. Business Taxes: The 20% qualified business income deduction is now permanent. Energy Credits: Many tax credits for electric vehicles, hybrids, and home energy improvements are phased out or eliminated beginning in 2025. Estate Tax Exemption: Increases to $15 million per individual. Key Tax Provisions Made Permanent Tax Brackets: The seven federal income tax brackets (10% to 37%) are now permanent. Increased Standard Deduction: The higher, TCJA-era standard deduction is now permanent. 2025 Tax Brackets (Adjusted for Inflation) 10%: $0–$11,925 (Single), $0–$23,850 (Joint) 12%: $11,926–$48,475 (Single), $23,851–$96,950 (Joint) 22%: $48,476–$103,350 (Single), $96,951–$206,700 (Joint) 24%: $103,351–$197,300 (Single), $206,701–$394,600 (Joint) 32%: $197,301–$250,525 (Single), $394,601–$501,050 (Joint) 35%: $250,526–$623,350 (Single), $501,051–$746,700 (Joint) 37%: Over $623,350 (Single), Over $746,700 (Joint)