Standard versus Itemized

For 2025, the standard deduction is $15,750 for single filers and $31,500 for married couples filing jointly. If your total deductible expenses don’t exceed these amounts, you’ll generally save more by taking the standard deduction.

However, if you have significant expenses—such as mortgage interest, state and local taxes (now capped at $40,000), charitable donations, or unreimbursed medical costs above 7.5% of your adjusted gross income—it may be worth itemizing on Schedule A. The recent increase in the SALT cap makes itemizing more attractive for some, especially in high-tax states.

Seniors and those who are blind may qualify for an additional deduction. Ultimately, compare your itemized deductions to the standard deduction and choose the option that lowers your taxable income the most.

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