11/07/2025
π£ Tax Update Alert! π°
Hey everyone β big news from the IRS! The 2026 tax inflation adjustments are out, featuring updates from the One, Big, Beautiful Bill (OBBB) π
Hereβs the quick scoop for your wallet ‡οΈ
π΅ Standard Deduction (2026):
π« Married Filing Jointly β $32,200 (up from $31,500)
π§ββοΈ Single / MFS β $16,100 (up from $15,750)
π Head of Household β $24,150 (up from $23,625)
π Tax Brackets:
Same rates, but the income ranges are higher β meaning you can earn a little more before moving up a bracket π
πΌ Other Key Updates:
β¨ Estate Tax Exemption β $15M (up from $13.99M)
β¨ Adoption Credit β $17,670
β¨ Employer Childcare Credit β Up to $500K ($600K for small biz!)
β¨ Commuter & Parking Benefits β $340/month
β¨ Health FSA Limit β $3,400
β¨ Foreign Income Exclusion β $132,900
β¨ Earned Income Credit (EITC) β Up to $8,231 for families with 3+ kids
ποΈ These apply to Tax Year 2026 (filed in 2027), but smart tax planning starts now.
π‘ Stay ready, not surprised β AKA Tax Action is here to help you plan ahead and keep more π΅ in your pocket, not the IRSβs!