Tax Brackets For 2025 Income Over 65. As retirees tend to face rising medical and other expenses, the extra standard deduction for individuals 65 and older can help alleviate tax burdens by reducing taxable income. The personal exemption for 2025 remains at $0.
Tax bracket creep occurs when inflation, rather than real increases in income, pushes people into higher income tax brackets or reduces the value they receive from credits and deductions. You could fall into a lower bracket for the income you earn in 2025 thanks to the new income tax rates.
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