For 2026, the Social Security maximum taxable earnings limit has increased to $184,500. This is up from $176,100 in 2025, meaning high earning employees will pay Social Security tax on an additional $8,400 of income.

For many taxpayers, 2026 may bring good news: If your total taxable income falls within the following ranges, you’ll owe no federal capital gains tax: • Individuals: $49,450 or less • Married couples filing jointly: $98,900 or less

If you paid $600 or more during the 2025 calendar year to individuals, independent contractors, or non-corporations for services, you are required to issue a Form 1099-NEC (Nonemployee Compensation).

Effective for tax years 2025–2028, qualified tips earned by individuals may be claimed as a federal income tax deduction of up to $25,000. Tips include money received from customers in cash, by credit card, or through a tip-sharing arrangement—provided they are given voluntarily.