IRS Tax Brackets + Capital Gains In 2026 | What You NEED To Know Now

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Video: https://www.youtube.com/watch?v=hUGXnncJ9QQ

Introduction to 2026 Tax Brackets and Standard Deductions (0:00)

  • IRS released new 2026 tax brackets causing confusion

  • Standard deduction increases: $16,100 for single filers, $32,200 for married filing jointly, $24,500 for heads of household

  • Additional benefits for seniors: extra deductions and a $6,000 senior bonus deduction, phasing out starting at $75,000 for singles and $150,000 for married couples, expiring after 2028

Changes in State and Local Tax Deductions (1:00)

  • Cap on state and local tax deductions raised from $10,000 to $40,000

  • Beneficial for taxpayers in high-tax states like New York, California, New Jersey, and Illinois

  • Itemizers can combine property, income, and sales taxes up to the new cap

Individual Tax Rates and Brackets Adjustments (2:00)

  • Lower individual tax rates and brackets made permanent with inflation adjustments

  • Seven tax brackets from 10% to 37%, with income thresholds indexed for inflation

  • Marginal vs. effective tax rates explained, with potential savings for families

Long-term Capital Gains Tax Adjustments (3:00)

  • New thresholds for long-term capital gains: 0% if under $50,000, 15% if under $307,000, 20% above that

  • Additional 3.8% net investment income tax for high earners

  • Opportunity for tax-free long-term capital gains if taxable income is under $100,000 after deductions

Special Considerations for Precious Metal Investors (4:00)

  • Gold and silver classified as collectibles, taxed at ordinary income rates capped at 28%

  • Importance of CPA planning to optimize after-tax returns on precious metals

Increased Contribution Limits for Retirement Accounts (5:00)

  • 2026 increase in contribution limits for 401ks, IRAs, and HSAs

  • Benefits of saving more pre-tax dollars and HSAs covering new healthcare services

Practical Tips and Planning Recommendations (6:00)

  • Review income and deductions to stay under new phase-out thresholds

  • Schedule CPA appointments for strategic planning, especially in high-tax states

  • Importance of planning ahead to save thousands, with timing as a critical factor