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