The IRS has announced updates to many tax items for the 2026 filing season (next year), including the standard deduction of $32,200 married and $16,100 single and tax brackets. The 32% tax bracket won’t start until taxable income above $403,550 married and $201,775 single, and the 35% tax bracket won’t start until taxable income above $512,450 married and $256,225 single. Income is stacked, so if some of your income is qualified dividends or capital gains, that is deducted from the rest of your income before calculating how much is taxed at ordinary tax rates. (Essentially, you could have taxable income much higher than those limits and still be in the lower tax brackets, because some of your income is taxed at lower capital gains rates). This emphasizes the importance of tax planning!
Speaking of tax planning, now is the time of year when your advisor is fine-tuning your tax planning (or working with your outside tax professional) to make sure there are no tax surprises. To have accurate tax planning, your advisor needs accurate information regarding your income and deductions. Results sometimes vary as all information isn’t always available before year end.
Medicare open enrollment is coming up soon! If you will be over age 65 in the next year, consider signing up for our webinar with Medicare consultant Marcia Mantell on October 28 at noon. We will record this session, and it will be available on our website.
If you know anyone who is a Microsoft® employee, let them know about our webinar put on by our own Kyle Labelle, CFP® RICP and Garrett Climo on understanding and making the most of your Microsoft® compensation and benefits, now available on our website. Note, we are not affiliated with Microsoft® in any way.
We will again be a Stable Housing Sponsor for Family in Transitions’ annual breakfast fundraiser on November 25 at the DoubleTree Hotel in Manchester. We have limited spots available for our table if you would like to attend – please reach out to info@milestonefinancialplanning.com if you are interested!
Milestone is hiring for two positions! If you know anyone interested, please have them send their resume and cover letter to jobs@milestonefinancialplanning.com.
- Client Service Rep – We are looking for someone who is detail oriented, client service focused and has a bachelor’s degree.
- Marketing Assistant – We are looking for someone with a bachelor’s degree in marketing that is experienced with digital marketing, including Google Ads.
Taxes and financial planning are complex, but you don’t have to navigate them alone. A financial advisor can help you stay informed about tax law changes, optimize your savings and investments, and avoid costly mistakes. If you need tailored guidance, our team is here to help. Talk to an advisor or call (603) 589-8010 to integrate tax planning into your comprehensive financial strategy.
Disclaimer:
The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. The views expressed in this commentary are subject to change based on market and other conditions. These documents may contain certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.
All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.
Milestone Financial Planning, LLC (“Milestone”) is a fee-only financial planning firm and registered investment advisor headquartered in Bedford, NH. Registration does not imply a certain level of skill or training. Milestone works with clients on an ongoing, long-term basis, providing financial planning, tax planning, retirement planning, and investment management services. Fees are based on assets under management and may include a financial planning fee. Milestone receives no commissions or referral fees and, as a fiduciary, is required to act in clients’ best interests. Advisory services are offered only where Milestone and its representatives are properly licensed or exempt from licensure. More information, including fees and principal risks, is available in Milestone’s Form ADV Part 2A. For help with your investments or financial planning, contact one of our fee-only advisors.
