Enrolled Agent Exam [Part 1] 03, Standard Deduction for 2025 cover art

Enrolled Agent Exam [Part 1] 03, Standard Deduction for 2025

Enrolled Agent Exam [Part 1] 03, Standard Deduction for 2025

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This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • The specific 2025 standard deduction amounts for Single, MFJ, and Head of Household. • How to determine whether a taxpayer should take the standard deduction or itemize their deductions. • How the standard deduction is increased for taxpayers who are age 65 or older, or are blind. • How the new "One Big Beautiful Bill" creates a significant senior deduction that replaces the prior age-based add-on. • How to calculate a taxpayer's full standard deduction in a complex exam scenario involving multiple additional amounts. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
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