The Stacking Benjamins Show How to Turn 2025's New Tax Rules Into Big Savings (SB1714)
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Jul 28, 2025 Big tax changes are on the horizon for 2025, offering savvy savers ways to maximize their cash! Discover why some tax credits might be a better deal than deductions. Learn how to make above-the-line moves for valuable savings without itemizing. Fans of charitable giving and auto loans will see new benefits. Families will appreciate expanded child credits and dependent care accounts. Plus, find out about 401(k) catch-up rules for those over 50 to supercharge retirement savings. Tune in for practical tips that could add thousands to your bottom line!
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Why Tax Credits Trump Deductions
- Tax credits reduce the tax bill dollar-for-dollar and are more valuable than deductions.
- A $10,000 tax credit directly reduces tax owed by $10,000, unlike deductions which reduce taxable income.
Deduct Charitable Contributions Above Line
- Even if you don't itemize, you can deduct $1,000 per person or $2,000 per couple in charitable contributions above the line.
- Track charitable donations to maximize deductions, even if taking the standard deduction.
Deduct Personal Auto Loan Interest
- Starting in 2025, personal auto loan interest on new U.S.-assembled vehicles is deductible up to $10,000.
- This deduction applies even if you take the standard deduction, creating new tax savings potential.