the well shut off on me today and it feels like its lost some pressure. is there a way to bleed the air out of the pressure tank? its holding 75psi as of right now.

what kind of pressure tank do you have?

75 psi of what kind of pressure, air or water?

where, and how  did you take that pressure reading?

some pictures would be great, and more info is needed to be of any help.

the pressure tank air reading is 50 and water press gauge is off the main line to the pressure tank reading 75psi.

Feels like it's lost pressure when the pump is off and the tank is supplying the pressure?   Or feels like it's lost pressure once the pump kicks on with a tap open?

If your pump kicked off ...... I'm guessing the latter.   If so, you have a pump/well issue.   If the first option, a pressure tank issue.

If the well pump is not running check the pressure switch, well pump controls, or circuit breaker.

1) If the pump is not running and you have no water in the house the pressure tank gauge should read ZERO. Any reading when there is no water to service would indicate a bad pressure gauge.

2) Assuming your pressure switch is set for 30-50 (only an example) your well pump turns on when at 30 PSI and shuts off at 50 PSI your pressure tank should have a 40 lb pre charge. Or 10 psi less then your cut out pressure.

3) If your well pump starts and runs as soon as you begin to use water in the house you most likely have a water logged pressure tank.

If you already know all this sorry.