Filing your 2025 taxes can feel overwhelming, but understanding the key deductions and credits available to you can make a big difference in your refund. Many taxpayers miss out on opportunities to save simply because they’re unaware of what qualifies.
Popular Deductions
- Student Loan Interest Deduction: You may deduct up to $2,500 of interest paid on qualified loans.
- Medical Expenses: If your medical costs exceed 7.5% of your adjusted gross income (AGI), you can deduct the excess.
- Charitable Contributions: Donations to qualified organizations are deductible if you itemize.
Credits That Can Reduce Taxes Directly
- Earned Income Tax Credit (EITC): Available for eligible low- to moderate-income earners, this credit can provide significant savings.
- Child Tax Credit: For those with qualifying children, this credit can reduce your tax bill dollar-for-dollar.
- Education Credits: The American Opportunity Credit or Lifetime Learning Credit can offset tuition costs.
Why Work With a CPA
Each deduction and credit has specific eligibility requirements. A professional can help ensure you don’t miss opportunities, avoid errors, and potentially increase your refund.
At Tax Rescue CPA, we specialize in helping individual taxpayers maximize their refunds while ensuring full compliance with IRS rules. Don’t leave money on the table. Contact Tax Rescue CPA today to make sure you claim every deduction and credit you deserve for 2025.
