Tax Planning 2026 2026

Federal & state guides, deductions, credits, and filing tips for individuals and small businesses.
Plan ahead with the latest 2026 numbers

The Tax Cuts and Jobs Act provisions continue, with inflation-adjusted brackets. Whether you’re filing individually or running a small business, these updated figures and strategies will help you keep more of your money.

2026 federal income tax brackets

For tax year 2026 (filed in early 2027). Rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%.

RateSingle filersMarried filing jointlyHead of household
10%$0 – $11,600$0 – $23,200$0 – $16,550
12%$11,601 – $47,150$23,201 – $94,300$16,551 – $63,100
22%$47,151 – $100,525$94,301 – $201,050$63,101 – $100,500
24%$100,526 – $191,950$201,051 – $383,900$100,501 – $191,950
32%$191,951 – $243,700$383,901 – $487,400$191,951 – $243,700
35%$243,701 – $609,350$487,401 – $731,200$243,701 – $609,350
37%$609,351+$731,201+$609,351+

Standard deduction 2026: Single $14,600 | Married joint $29,200 | Head of household $21,900. Additional $1,950 for age 65+ or blind.

Key deductions & credits

Above-the-line deductions

  • Educator expenses: $300
  • HSA contributions: $4,150 self / $8,300 family
  • Traditional IRA (if no retirement plan): deductible up to $7,000

Itemized deductions

  • Mortgage interest (acquisition debt up to $750k)
  • State & local taxes (SALT) capped at $10,000
  • Charitable contributions (up to 60% AGI)

Family credits

  • Child Tax Credit: $2,000 per child
  • Child & Dependent Care Credit: up to $3,000 (one) / $6,000 (two+)
  • Earned Income Tax Credit (phaseouts apply)

Education benefits

  • American Opportunity Credit: $2,500
  • Lifetime Learning Credit: $2,000
  • Student loan interest deduction: $2,500

State taxes at a glance

No income tax states: AK, FL, NV, SD, TN, TX, WA, WY. (NH only tax on dividends/interest).

Flat-rate states: CO (4.4%), IL (4.95%), IN (3.05%), KY (4%), MA (5%), MI (4.25%), NC (4.5%), PA (3.07%), UT (4.65%).

Progressive rate states: CA (1–13.3%), HI (1.4–11%), NJ (1.4–10.75%), NY (4–10.9%), etc. Always check your state's deduction rules.

Small business & self‑employed

QBI deduction (199A)

Up to 20% of qualified business income. Phase‑ins for specified service trades: taxable income threshold ~$182,100 (single) / $364,200 (joint).

Vehicle & equipment

Standard mileage rate 2026: ~67¢/mile (estimate). Section 179 deduction limit: $1,160,000; bonus depreciation 80%.

Home office & meals

Simplified home office deduction: $5/sq.ft. (max 300 sq.ft.). Business meals 50% deductible.

2026 filing deadlines: Individual returns due April 15, 2027. Extensions grant until Oct 15. Estimated tax payments for 2026: April 15, June 15, Sept 15, 2026 & Jan 15, 2027.
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