2026 Income Tax Update
Posted on 12. Feb, 2026 by Brian Parker in Tax News
The 2017 Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017. This tax act made sweeping changes to the U.S. tax code and impacted virtually every taxpayer and family. The TCJA made major changes in the tax laws that affected 2018 through 2025 tax returns. The TCJA expired on December 31, 2025, when it was replaced by the “One Big Beautiful Bill Act” (OBBBA) signed into law on July 4, 2025. The OBBBA has made many notable…Read More
2026 IRA, Retirement Plan Contribution Limits And Social Security News
Posted on 12. Feb, 2026 by Brian Parker in IRA Contributions, Tax News
On November 13, 2025, the IRS announced new limits for IRA, pension and other contributions for 2026. For the most part, the limits increased from 2025 because there was a rise in the cost-of-living index. The maximum limit for contributions to IRAs for 2026 increase to $7,500 from $7,000 for 2025. If you are age 50 or older, you can contribute a maximum of $8,600 to an IRA for 2026, an increase from $8,000 for 2025. You can make contributions to your…Read More
