2026 Tax Updates Every Business Owner Needs to Know

Every year, the IRS updates important tax numbers, that most business owners miss. This leads to missed deductions, poorly timed income decisions, and unnecessary overpayments to the IRS. In this episode, we break down the most important 2026 tax updates business owners need to know, including changes to tax brackets, standard deductions, Social Security wage caps, retirement limits, HSA contributions, mileage rates, capital gains thresholds, and Section 179 expensing. 👉 Get the Free Tax Savings Starter Kit Built for Small Business Owners: 🚀 Book your free demo call today. Click here or visit: Chapters (00:52) Why IRS Tax Numbers Change Every Year Tax brackets, standard deductions, retirement limits, Social Security wage caps, HSA limits, and mileage rates are adjusted annually based on inflation and tax policy changes. (01:24) 2026 Standard Deduction and Why It Matters The new standard deduction amounts affect whether it makes sense to itemize and also shape strategies like hiring your children, since income below the standard deduction may avoid federal income tax. (06:12) The 2026 Social Security Wage Cap Wages are subject to Social Security tax only up to the annual wage cap, which makes this number especially important for payroll planning and S Corp salary decisions. (08:15) Retirement Contribution Limits for 2026 Updated IRA and 401(k) contribution limits create new opportunities for tax deductions, especially for business owners using retirement plans to reduce taxable income. (09:43) 2026 HSA Contribution Limits and Why HSAs Are So Powerful HSA contribution limits increased for 2026, and the account remains one of the most tax-advantaged tools available because contributions, growth, and qualified withdrawals all receive favorable tax treatment. (11:13) 2026 Mileage Rate Increases The higher mileage rate can create a larger deduction for business owners who use the standard mileage method, making accurate mileage tracking even more important. (12:57) Capital Gains Tax Thresholds for 2026 Long-term capital gains are taxed under a separate set of thresholds, which makes timing important when selling investments, real estate, or a business. Podcast Host: Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings Podcast Join TaxElm: 🚀 Visit: 🚀 Check Out TaxElm: 🚀 Join our Free Facebook Group: 🚀 YouTube: 👋🏼 GET IN TOUCH You can Tweet @MJesowshek with any feedback, ideas, or thoughts about the lessons you've learned from the episodes. We want to thank you personally for tuning in 🙏 🙌LEAVE A REVIEW If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐ 🎙 ABOUT THE PODCAST The Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies to help entrepreneurs legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this show breaks down complex tax topics into clear, no-fluff insights so you can keep more of your hard-earned money.

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2026 Tax Updates Every Business Owner Needs to Know is an episode from Small Business Tax Savings Podcast by Mike Jesowshek, CPA.

This episode is 20:05 long.

This episode was published on Apr 8, 2026.

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