statetaxrules.com

What's Changing With Tax Brackets and Rates?

This is the first thing most people ask: "Will I pay more taxes?"The honest answer depends on where you fall in the income spectrum and what Congress does between now and then.

Are Deductions Getting Cut Back?

Here's where real confusion sets in. Several deductions that millions of people rely on face potential changes:Deduction/CreditCurrent StatusWhat's at RiskStandard deductionFixed annuallySmaller real-dollar increases if not indexedChild tax creditUp to $2,000 per childMay revert to lower amountsEarned income tax creditSubstantial for lower earnersPotential reduction in benefitsState and local tax deduction.

How Will Retirement Account Rules Shift?

Retirement savings rules have been in flux, and 2026 may bring more clarity—or more complications.The SECURE Act 2.0 introduced changes that are rolling out in stages. Some provisions take effect in 2026 specifically. If you have older parents, inherited retirement accounts, or are planning your own retirement strategy, timing matters intensely.

What About Self-Employment and Business Income?

Self-employed people and small business owners face another layer of complexity.

What Should You Do Right Now?

The most practical move isn't to panic. It's to gather information and plan intentionally.First, understand your specific situation. Run your 2025 taxes under both current rules and projected 2026 rules if possible. See where the difference lands.