Tax Planning
How US Filers Should Leverage the ‘‘One, Big, Beautiful Bill’’: Key Planning Moves for 2026
Tax year 2026 brings sweeping inflation adjustments and new deductions under the ‘‘One, Big, Beautiful Bill’. Here’s how individuals and small business owners can plan to maximise benefits.
By NomadicTax Research Team • 5-8 min read • March 30, 2026
## What Is the One, Big, Beautiful Bill (OBBB)?
Passed in mid-2025, the **OBBB** permanently restructured many U.S. federal tax provisions. Inflation provisions were adjusted for 2026, and several deductions and credits were expanded, aiming to benefit low- and middle-income taxpayers, families, and small businesses. ([irs.gov](https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2026-including-amendments-from-the-one-big-beautiful-bill?utm_source=openai))
## Major Changes to Know (Tax Year 2026)
| Change | Description | Why It Matters for Planning |
|---|---|---|
| **Higher standard deductions** | $32,200 for married filing jointly; $16,100 for single; $24,150 for heads of household. ([irs.gov](https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2026-including-amendments-from-the-one-big-beautiful-bill?utm_source=openai)) | Larger deductions reduce taxable income; reconsider itemizing based on SALT limitations. |
| **Expanded HSA eligibility & telehealth access** | Bronze and catastrophic plans are now HSA-compatible; telehealth allowed before reaching HDHP deductible; HSA funds can cover periodic fees under certain direct primary care arrangements. ([irs.gov](https://www.irs.gov/newsroom/one-big-beautiful-bill-provisions?utm_source=openai)) | If you’re eligible, maximizing HSA contributions is tax-efficient. Telehealth now helps even if your deductible isn’t met. |
| **Full first-year bonus depreciation**, including sound recording productions | All qualifying business property placed in service after Jan 19, 2025, can be 100% expensed. ([irs.gov](https://www.irs.gov/irb/2026-06_IRB?utm_source=openai)) | Ideal for businesses investing in equipment; consider timing acquisitions and making §168(k) elections. |
| **Child Tax Credit bump to $2,200 per child; SALT deduction cap rise** | Some credits are now permanent; SALT limit raised to ~$40,000 for joint filers 2025–2029. ([irs.gov](https://www.irs.gov/newsroom/understanding-the-one-big-beautiful-bill-individual-tax-provisions-youtube-video-text-script?utm_source=openai)) | Families benefit; high SALT state taxes are more effectively deductible within limits. |
## Strategic Tax-Planning Moves
- **Optimize tax deductions**: With larger standard deductions, itemizing works only when deductions exceed those thresholds. Use a “hybrid” strategy: prepay property tax or mortgage interest, bunch donations.
- **Accelerate business purchases**: Buy qualifying equipment before year-end to leverage full Section 168(k) depreciation; ensure use begins before regulations update. ([irs.gov](https://www.irs.gov/irb/2026-06_IRB?utm_source=openai))
- **Max out HSAs** if eligible** – pre-tax contributions save income tax & payroll tax. Ensure your insurance plan qualifies.
- **Review your AGI**: Some deductions/credits phase out based on modified adjusted gross income (MAGI). SALT cap phase-out begins beyond $500,000 MAGI for joint filers. ([irs.gov](https://www.irs.gov/newsroom/understanding-the-one-big-beautiful-bill-individual-tax-provisions-youtube-video-text-script?utm_source=openai))
- **Watch tax withholding or estimated payments**: Changes are retroactive to 2025 for some credits. Make sure enough federal tax is withheld or estimated to avoid penalties. ([irs.gov](https://www.irs.gov/newsroom/taxpayers-could-see-a-change-in-their-2025-tax-bill-or-refund?utm_source=openai))
## Real-World Example
Maria is married, filing jointly, with three kids. In 2025, her state and local taxes were high, and she itemized. For 2026, her standard deduction under OBBB is ~$32,200; with itemizable expenses of ~$28,000, she’d be better off taking the standard deduction. Meanwhile, she purchases $10,000 worth of qualified business equipment in early 2026, fully expensing it under §168(k).
## Action Steps Before Filing Season
1. Gather 2025 income and deductions early to evaluate itemizing vs standard.
2. Track health plan eligibility & open enrollment dates for HSA-compatibility.
3. Plan business-asset purchase timing carefully.
4. Estimate credits like the Adoption Credit, Child Tax Credit, and ensure SSN compliance for dependents. ([irs.gov](https://www.irs.gov/newsroom/taxpayers-could-see-a-change-in-their-2025-tax-bill-or-refund?utm_source=openai))
Staying ahead of these changes can save thousands. Consult with a tax professional to tailor strategies to your situation.