Some quick inflation adjusted tax items for 2026

Believe it or not, 2026 is almost upon us (less than 3 weeks !). In case you care, here is a quick list of some tax items for 2026:

Standard deduction for married file joint: 32,200

Standard deduction for single: 16,100

Standard deduction for heads of household: 24,150

Annual gift "tax" exclusion: 19,000 (which is unchanged from 2025)

401K payroll deferral maximum: 24,500 (if under age 50)

401K payroll deferral maximum: 32,500 (if 50 and older (35,750 age 60-63))

IRA deduction maximum: 7,500 (if under age 50)

IRA deduction maximum: 8,600 (if 50 and older)

Child Tax Credit ($2,200 per qualifying child)

I'll be in touch soon, clients, for our 2025 tax season !