2026 Tax Planning Guide: Key Strategies to Reduce Your Taxes

Several tax changes in 2026 can help reduce what you owe, especially if you own a business, invest in real estate, or have a higher income. Here are the key things to know and how they may apply to you.

1. Write Off Business Purchases Faster

If you own a business, 2026 allows you to deduct large purchases (like equipment or vehicles) immediately instead of spreading the deduction over many years.

● You can deduct up to $2.56 million of qualifying purchases

● You may be able to deduct 100% of the cost in the same year

What this means for you:

If you’re planning a large purchase, doing it in 2026 could significantly lower your taxes for the year.

2. Be Aware of Limits on Losses

There are limits on how much business loss you can use to reduce your taxes in a given year:

● $256,000 (single)

● $512,000 (married filing jointly)

If your losses go beyond this, you can still use them, but in future years.

What this means for you:

Even if you have large write-offs (from real estate or business losses),you may not get the full tax benefit right away.

3. Save More for Retirement (and Lower Taxes)

Contribution limits have increased for 2026:

●Up to $24,500 into a 401(k)

●Additional $8,000 if you’re 50+

●Even more if you’re between 60–63

●Total (including employer): up to $72,000

What this means for you:

You can reduce your taxable income while building long-term savings— especially valuable if you’re a high earner.

4. Use Health Accounts for Tax Savings

●HSA(Health Savings Account):

○ $4,400 (individual) / $8,750 (family)

●FSA(Flexible Spending Account):

○ $3,400 limit

What this means for you:

These accounts offer tax advantages and can help cover healthcare costs more efficiently.

5. Business Owners: Watch the 20% Deduction (QBI)

Some business owners qualify for a 20% deduction on their income, but it starts to phase out at higher income levels.

What this means for you:

How your income is structured can impact whether you qualify. This is an area where planning matters.

As 2026 tax planning approaches, we have opportunities available to help implement tax-efficient strategies. Reach out to us at wealth@mytimeequity.com to learn how we can support your planning.

Disclaimer

At MyTimeEquity PE Private Equity LLC, we manage the entire lifecycle — from acquisition and operations to property management, asset management, and exit planning including full 1031 facilitation. You invest. We handle everything else.

Before investing, please review all offering documents and consult your tax and financial advisors. Real estate investments involve risk, including possible loss of principal. Tax benefits depend on individual circumstances. MyTimeEquity LLC is a registered investment advisory firm. MyTimeEquity PE Private Equity LLC is an affiliated entity that sponsors real estate, pre-IPO, and digital asset investment opportunities. This content is for informational purposes only and does not constitute investment or tax advice.