Video Description

Big changes are coming to your 2026 taxes under the One Big Beautiful Bill (OBBB) — and they’re not all bad news. In this video, we break down every major tax update you need to know, including the new standard deduction amounts, adjusted income tax brackets, child tax credit details, SALT deduction limits, and estate tax thresholds. Whether you’re working, retired, or planning your next move for 2026, these changes could seriously affect how much you owe — or save. Stay informed and make smarter financial moves before tax season hits. 📖 FIRE Investing Academy 📖 ➡️ https://www.firepsychat.com/fireinvesting Join my private FIRE 🔥 Community to connect with me! 🙂 ➡️ https://firepsychat.com/community 👨‍🏫 Financial Consultation 👩‍🏫 Schedule a 1-on-1 Private Session with Psy ➡️ https://www.firepsychat.com/consultation The budget app! Start your free YNAB trial today! ➡️ https://www.firepsychat.com/ynab Increase your income by starting a course in Course Careers! ➡️ https://coursecareers.com/a/FIREPsyChat 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ https://www.firepsychat.com/resources Become a Channel Member! ➡️ https://www.youtube.com/channel/UCxVMI3H_O2PW5O4qpORkZ_Q/join For sponsorships and business inquiries ➡️ [email protected] ⏰ Table of Contents ⏰ 0:00 Tax Changes Overview 0:55 Standard Deduction 1:29 Single 2:21 Head of Household 2:43 Married Filing Jointly 3:13 2026 Income Tax Brackets 3:27 New Tax Brackets 4:38 Single Income 6:19 Married Income 7:30 Other Tax Changes 7:38 Child Tax Credit 8:18 SALT Deductions 9:30 Estate Tax Credits 9:51 Annual Exclusion for Gifts 10:16 Adoption Credits 10:59 EITC 11:15 Medical Savings Account 11:51 Foreign Earned Income Exclusion 12:04 What It All Means for 2026 and How to Prepare #FIREPsyChat #FinancialIndependence #2026TaxUpdate 🎵 Music and Sound Effects Provided by Epidemic Sound 🎵 https://www.epidemicsound.com/referral/de9jqv/ Disclaimer: This video is not in any form of personalized financial advice. I am solely sharing my personal experience and opinions. All Strategies, tips, suggestions, and recommendations shared are solely for entertainment and educational purposes only. There are financial risks associated with investing. You must conduct your own research and due diligence or seek the advice of a licensed advisor if necessary. Affiliate Disclosure: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our opinions and comparisons.