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2. The Best Tax Deductions and Tax Breaks for 2024-2025 - AOL

   www.aol.com/most-americans-think-taking-entitled...

   Under the recent tax law, the deductibility of state and local tax payments for federal income tax purposes is now limited to $10,000 — or $5,000 for married taxpayers filing separately — in a ...

3. Are There Hidden Tax Benefits You’re Missing This Year? - AOL

   www.aol.com/hidden-tax-benefits-missing...

   “The 2024 contribution limit for 401(k) plans is $23,000, with an additional $7,500 catch-up contribution for those 50+.” ... Some medical costs are eligible as an itemized deduction ...

4. What are the tax brackets for tax years 2024 and 2025 ... - AOL

   www.aol.com/tax-brackets-tax-years-2024...

   For married couples filing jointly for tax year 2024, the deduction increased to $29,200, up $1,500 from tax year 2023, the IRS said. The IRS noted that for the head of household, the standard ...

5. Tax Credits or Tax Deductions: Which Will Save You More? - AOL

   www.aol.com/tax-credits-tax-deductions-save...

   Here’s what to know about the differences between tax deductions and tax credits and how they can help you reduce your tax bill and maximize your refund. ... For 2024, the tax brackets are ...

6. Retirees 65 and Older Eligible for Extra Standard Deduction ...

   www.aol.com/retirees-65-older-eligible-extra...

   For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older OR blind are: $1,850 for single or head of household. $1,500 for married taxpayers (per qualifying ...

7. Tax breaks after 50 you might not know about - AOL

   www.aol.com/finance/tax-breaks-after-50-you...

   But you must itemize your deductions to be eligible, and total medical expenses must be more than 7.5% of your adjusted gross income. ... For tax year 2024, the IRS excludes gifts of up to $18,000 ...