Tax Planning 2026 2026
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%.
| Rate | Single filers | Married filing jointly | Head 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.
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2026 data
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