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
01:20benefits these thresholds remain unchanged despite inflation
01:21these thresholds remain unchanged despite inflation
01:21these thresholds remain unchanged despite inflation meaning more retirees are caught each year
01:25in the same way the maximum taxable earnings rose to one hundred eighty four thousand five hundred dollars
01:30in twenty twenty six taxpayers age 65 and older now
01:35now qualify for a new six thousand dollar deduction on top of the standard deduction this
01:40this bonus phases out for single filers over seventy five thousand dollars the standard
01:45the standard deduction also increased to sixteen thousand one hundred dollars for singles and
01:50thirty two thousand two hundred dollars for couples long-term investors benefit most
01:55in twenty twenty six stocks held four years qualify for a seventy
02:00five percent exclusion while five-year holdings receive a one hundred percent capital
02:05gains exclusion short-term trading remains fully taxable
02:10the salt deduction cap increased to forty thousand dollars for joint filers restore
02:15the value of itemizing for many in high-tax states new trump accounts for
02:20minors offer tax-advantaged growth potentially providing retirees with a new legacy
02:25planning option the 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 tax
02:40tax-burdance
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