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Heres what you gotta know.
Heres what you could expect starting in 2026.
When the TCJA expires, new 2026tax bracketswill rise for many.
According to the Tax Foundation, this is what the changes may look like.
For example, under the TCJA, a married couple earning $200,000 falls within the 22% bracket.
If the TCJA expires in 2026, the standard deduction may fall drastically.
And themarried filing joint standard deductionis currently at $29,200, but it could fall to $16,600.
Families with a lot of dependents may be able to claim more exemptions, outpacing theprevious standard deduction.
This would completely go away if the TCJA expires.
The current lifetime estate andgift tax exclusionis $13.61 million per person.
When the TCJA expires in 2026, this amount could drop to $7.15 million per person.
The TCJA raised the exemption amount and lowered the AMT tax rates.
Once it expires, these rates could increase and more taxpayers would be required to pay AMT.
Once the TCJA expires, homeowners can deduct interest on HELOC balances up to $100,000 for any reason.
Here are a few of the potential changes coming in 2026.
This lowered the tax burden on small business owners.
This 20% QBI deduction goes away when the Tax Cuts and Jobs Act expires in 2026.
Under the TCJA, they could deduct up to 100% starting in 2022.
However, this allowance is phasing out by 20% each year and will end in 2026.
You may want to switch back toinvesting in pre-tax accountswhen rates reset in 2026.
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