About

About Journey

Our Mission

Support financial advisors in un-conflicted independence, fostering a community for client-focused, fulfilling work.

Our Why

Support advisors beyond tech, partnering to make strategic decisions for optimal client service; committed to transcending industry norms.

Our Values

Guided by core values, we prioritize integrity, collaboration, impartiality, clear communication, cohesion, and inclusive opportunities.

Team

Meet our dedicated team committed to your success.

Locations

Our service goes beyond the confines of our office locations.

Partner Network

Custodian & Broker-Dealer

Investments & Banking Solutions

Technology
Services

Services

Operations

Eases responsibilities, enabling focus on growth and client satisfaction.

Wealth Management

Ensure comprehensive wealth management with tools for holistic client service.

Investment Management

Optimize investment management with our team handling tasks efficiently.

Practice Management

Streamline operations, prioritize core activities, and support professional development.

Client Experience

Deliver personalized client experiences with curated gifts and synchronized platforms.

Culture

Equal access, zero tolerance for discrimination—every advisor has a seat at our inclusive table.
Insights

Insights

Articles

Events

In The Press

Insights

Podcasts, Panels and Presentations

Wealth Management

Youtube Channel

Featured

Insights

2026 Federal Tax Changes & Planning Guide

Advisor Edition*As of October 2025 Turning Tax Changes into Opportunity The IRS has released its official 2026 tax brackets and related updates, reflecting both routine inflation adjustments and several new deductions introduced under the One Big Beautiful Bill (OBBB) legislation.For advisors, 2026 will mark one of the most consequential mid-cycle shifts in individual and small-business taxation since the 2017 Tax Cuts and Jobs Act. This guide summarizes the key provisions, who they impact, and how to translate them into actionable planning opportunities.The focus here is tactical, not theoretical—specific actions you can take before year-end 2025 and discussion points to raise proactively in early 2026. 1. Core Bracket & Deduction Changes Higher thresholds. Larger deductions. Expanded planning flexibility.Inflation adjustments for 2026 expand nearly every federal income tax bracket. Most households will see slightly lower effective tax rates, but proactive modeling is essential, especially for clients near bracket thresholds or those timing income and deductions between tax years. RateSingle (2026)Married (2026)% Change from 2025Advisor Note10%$0 - $12,400$0 - $24,800+4%Update client withholdings; reassess estimated payments.12%$12,401 - $50,400$24,801 - $100,800+4%Expanded range for Roth conversions and gain harvesting.22%$50,401 - $105,700$100,801 - $211,400+2.3%Time income or bonuses to optimize bracket management.24%$105,701 - $197,300$211,401 - $394,600FlatEvaluate deferred comp elections; check phaseouts.32%$197,301 - $250,525$394,601 - $501,050FlatMonitor QBI limits; model cumulative income stacking.35%$250,526 - $626,350$501,051 - $751,600FlatAnalyze AMT crossover risk; review deductions.37%$640,601+$768,701++2.2%Top band rises—some relief for high earners. Standard Deduction (2026)• Single: $16,100• Married Filing Jointly: $32,200• Head of Household: $24,150• Age 65+ Additional Deduction: +$6,000 per taxpayerAction: Re-run projected 2026 returns early. Many clients will fall one bracket lower or see effective rate reductions of 0.5–1%. 2. Temporary “Working American” Deductions (2025–2028) Four new above-the-line deductions reward work, not investment income. DeductionMaximum BenefitEligibilityAdvisor ActionNo Tax on TipsUp to $25,000 per returnOccupations “customarily receiving tips” (IRS list forthcoming)Identify qualifying clients; confirm employer reporting.Overtime Deduction$12,500 single / $25,000 jointHours >40/week; must show qualified overtime payEncourage clients to retain pay statements; adjust W-4 allowances.Vehicle Loan InterestUp to $10,000Loans on U.S.-assembled personal vehiclesCompare buy vs. lease; ensure VIN tracking.Senior Bonus Deduction$6,000 per taxpayer age 65+Phases out >$75K MAGI (single) / $150K (joint)Incorporate into RMD and SS planning models. Advisor Tip: These deductions are temporary (expire after 2028). Build them into cash-flow planning now, while clients can still adjust income timing and documentation habits. 3. SALT, QBI, Estate & Business Planning Relief for high-tax states and small-business owners. ProvisionChange for 2026Planning ImplicationsSALT Cap Raised$10K → $40K (indexed)Re-model itemizing vs. standard deduction; revisit state withholding strategy.QBI Deduction20% made permanentRe-model itemizing vs. standard deduction; revisit state withholding strategy.Review entity structure and reasonable compensation for pass-through clients.Bonus Depreciation100% restored permanentlyEncourage eligible clients to accelerate capital expenditures or cost-segregation studies.Estate Exemption$15M per individualUpdate estate docs; revisit lifetime gifting and trust funding strategies. Note: The combination of QBI permanence and expanded SALT relief offers high-income clients in high-tax states a renewed window for integrated tax and cash-flow optimization. 4. AMT, Credits & Other Adjustments Key secondary changes advisors should model early. Category2026 UpdateAdvisor FocusAlternative Minimum TaxPhase-out rate increased to 50%Model AMT risk for dual-income clients with large deductions.Child Tax Credit$2,000 per child (no major change)Confirm coordination with dependent care credits.Energy / IRA CreditsCertain IRA-based energy credits curtailedVerify federal/state conformity before client installations.RefundsPaper checks discontinued after Sept 2025Ensure all clients have verified direct-deposit info on file. 5. Year-End Planning Checklist Before Dec 31, 2025: Finalize large capital expenditures to leverage 100% bonus depreciation. Review 529 contributions and gifting strategies under the new $15M lifetime exclusion. Re-evaluate RMD and retirement income strategies for clients age 65+. Verify business structures for continued QBI eligibility. Conduct mock 2026 tax returns for top-tier earners to test bracket shifts and deductions. Early 2026: Update payroll and withholding systems for tip/overtime rules. Review state conformity and SALT deduction interplay. Confirm all refund accounts for e-filing. Refresh quarterly estimated payments and safe-harbor planning. What’s Still Pending IRS list of “customarily tipped occupations.” Final guidance on overtime reporting and employer documentation. MAGI phase-out thresholds for new deductions. State-by-state adoption of new federal deductions. Implementation of ACA premium-credit recapture repeal. 2026 introduces a rare combination of expanded deductions, restored incentives, and new opportunities to reduce lifetime tax drag.Advisors who model early, communicate proactively, and integrate tax with planning will capture measurable value for clients—especially in the next 12-24 months before certain provisions sunset.Now is the time to test assumptions, refine projections, and get ahead of the curve.

Penny Phillips

Oct 15, 2025
For Clients
Contact

View All

Insights

The latest articles, events, podcasts, panels, presentations, videos and resources from our team.

Subscribe to our newsletter

Stay in the loop with everything you need to know.

View All
Articles
Events
In The Press
Insights
Podcasts, Panels and Presentations
Wealth Management
Youtube Channel

No results found for your search.

Empower Clients,
Elevate Your Practice.

Follow us

About

Team
Locations
Partner Network
Contact

Services

Operations
Wealth Management
Investment Management
Practice Management
Client Experience
Culture

Insights

Articles
Events
In The Press
Insights
Podcasts, Panels and Presentations
Wealth Management
Youtube Channel

For Clients

Client Login
Find an Advisor

Copyright ©2024 Journey Strategic Wealth. All Rights Reserved.

Privacy Policy & Disclosure
Form ADV
Form ADV Part 2A
Form CRS
BrokerCheck

Disclosure: Securities offered through Purshe Kaplan Sterling Investments, Member FINRA/SIPC, Headquartered at 80 State Street, Albany NY 12207. Purshe Kaplan Sterling Investments and Journey Strategic Wealth are not affiliated companies. Not FDIC Insured. Not Bank Guaranteed. May lose value including loss of principal. Not insured by any state or federal agency.