00:00retirement taxes in 2026 what savers and retirees need to know
00:05retirement in 2026 does not mean freedom from taxes with the one
00:10big beautiful bill act passed in july 2025 the u.s has entered a post
00:15t cja era where many tax cuts were made permanent but adjusted for inflation
00:20while rates stayed the same income thresholds shifted changing how
00:25much retirees and savers owe fixed income does not mean fixed taxes
00:30and many retirees may feel the impact this year the seven federal tax brackets remain
00:35intact but income ranges increased by about 2.7 percent for 2026
00:40the 10 bracket now tops out at twelve thousand four hundred dollars
00:45for single filers and twenty four thousand eight hundred dollars for married couples filing
00:50jointly while the feared return to higher pre-2017 rates was of
00:55bracket creep remains a risk especially as rmds and inflation adjustment
01:00increased income push retirees into higher tiers social security benefits
01:05benefits are still taxable for many retirees individuals with combined income over
01:10over thirty four thousand dollars and couples over forty four thousand dollars mayo tax
01:15taxes on up to eighty five percent of benefits these thresholds remain unjust
01:20changes despite inflation meaning more retirees are caught each year
01:25Meanwhile, the maximum taxable earnings rose to $184,500.
01:30In 2026, taxpayers age 65 and older.
01:35Now qualify for a new $6,000 deduction on top of the standard deduction.
01:40This bonus phases out for single filers over $75,000.
01:45The standard deduction also increased to $16,100 for singles and
01:50$32,200 for couples.
01:53Long-term investors benefit most.
01:55In 2026, stocks held four years qualify for a $75,000 deduction.
02:00While five-year holdings receive a 100% capital.
02:05Gains exclusion.
02:06Short-term trading remains fully taxable.
02:10The SALT deduction cap increased to $40,000 for joint filers.
02:15Restoring the value of itemizing for many in high-tax states.
02:18New Trump accounts for.
02:20Minors offer tax-advantaged growth.
02:22Potentially providing retirees with a new legacy.
02:25Planning option.
02:26The 2026 Tax Landscape Rewards Planning.
02:30While Social Security Taxes remain a trap, higher deductions, expanded SALT
02:35limits, and long-term investment incentives offer meaningful opportunities to reduce retirement
02:39taxes.
02:40Exponents.
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