09/21/2026
🚨 2026 TAX YEAR: WHAT YOU NEED TO KNOW
The 2026 tax year brings several important IRS changes that will affect the returns you file in 2027.
From new deductions for qualified overtime and tips to potential deductions for qualifying vehicle loan interest and a new senior deduction, there are more opportunities to consider when preparing your 2026 return.
And for my business owners, Qualified Business Income (QBI) under Section 199A is now permanent, making proper business accounting and tax planning even more important.
📌 Some of the key changes include:
• Up to $12,500 deduction for qualified overtime
• Up to $25,000 deduction for qualified tips
• Up to $10,000 deduction for qualifying vehicle loan interest
• Up to $6,000 senior deduction per qualifying individual
• Increased 2026 standard deductions
• Updated federal tax brackets
• Permanent QBI deduction
• Additional changes affecting charitable contributions, credits and itemized deductions
💡 The key is preparation. Don’t wait until tax season to discover that a deduction or tax benefit may apply to you.
At Derick’s Accounting & Tax Services, I help individuals and small businesses understand the changes, organize their financial information and prepare strategically for tax season.
📲 470-702-6075
📧 [email protected]
🌐 www.derickats.com
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Plan. Prepare. Prosper.