Tax Deductions 2026

Note:  Due to this being the government information, it can be change at anytime!

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For the 2026 tax year, significant changes in tax write-offs include increased standard deductions, new business write-offs, and expanded tax credits, particularly from the One Big Beautiful Bill Act (OBBBA).

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1. Standard Deductions:

• The standard deduction for married couples filing jointly increases to $32,200.

• For single filers, the standard deduction rises to $16,100.

• Heads of household will receive a standard deduction of $24,150.

• Additionally, seniors aged 65 and older can claim an extra $6,000 deduction, which phases out at higher income levels. 

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1. Business Write-Offs:

• The Section 179 business deduction limit is raised to $2.5 million, with a phase-out threshold of $4 million. This allows businesses to deduct the full purchase price of qualifying equipment and software. 

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  New vehicle interest deductions allow for up to $10,000 annually for interest on loans for new American-made vehicles through 2028.

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2.   Expanded Tax Credits:

• The employer childcare credit maximum increases significantly from $150,000 to $500,000, providing more support for businesses offering childcare benefits. 

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• Various tax credits have been expanded, benefiting families and self-employed individuals, making it essential to understand these opportunities for maximizing tax savings.

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