Taxes are changing in 2026. Are you prepared?

Planning takes time and coordination between your team of professionals. With significant changes coming at the end of 2025, taxpayers should be planning ahead—starting now. Failing to do so increases your tax liability.

Proactive tax planning focuses on smoothing your tax bill over the long-term, and there are advantageous tax-saving strategies currently sitting on a silver platter for high-net worth individuals under the Tax Cuts and Jobs Act.

On top of that, failing to start planning now could put you at risk of having a significantly higher tax bill after the sunset.

Request a tax plan review

No matter where your plan currently stands, we’ll help you evaluate your situation, which is unique and deserves a personalized roadmap, to ensure you're prepared in advance to maximize your tax savings and take advantage of opportunities still available today.

What's actually changing?

The Tax Cuts and Jobs Act (TCJA) of 2017 is “set to expire” meaning that without legislative intervention, this Act will ‘sunset’, and the provisions will revert. With a presidential election on the horizon, it is yet to be seen if Congress acts, but you can’t afford wait as the planning window is rapidly closing.

There are a few notable changes:

2026-tax-bracket-changes-table

Income Tax Brackets

The one change that will likely be felt by all taxpayers is the expiration of income tax cuts under TCJA. Tax brackets will increase, significantly—up to 20%.
 

See how income taxes will increase

2026-tax-changes-power-of-estate-plan

Estate and Gift Tax Exemption

The per-person Federal estate and gift tax exemption is set to revert from somewhere around $14 million per person to somewhere around $7 million, making it advantageous to act now.

See how estate taxes will increase

Standard Deduction and Personal Exemptions

The TCJA eliminated the personal exemption and doubled standard deductions – making itemized deductions restrictive, and potentially leading to increased tax liability. After the sunset, individuals will once again be able to itemize, presenting an opportunity to review your situation and see which choice is more tax‑friendly.

How do I prepare?

Everyone has some degree of planning to do—individuals and business owners alike. There are several time-sensitive changes on the horizon that require planning and coordination between you and a number of professionals, including financial, tax, and estate planning professionals.

Creating a plan that is appropriate and finalizing paperwork takes time – even scheduling a meeting – which is why you should begin the process now.

Think about the time left like this...

2024
young-couple-meeting-with-a-financial-advisor

2024 is the year for planning

Start conversations to understand your goals and what opportunities you have.

2025
young-couple-meeting-with-an-advisor-looking-at-a-computer-while-drinking-coffee

2025 is the year for funding,

and transferring assets to the new vehicles, capturing the full benefits of current rates and limits before the sunset takes effect in January 2026.

 

The good news?

Manning & Napier can help. We have a robust team at your disposal to help create the most comprehensive plan possible and ensure you’re utilizing your dollars in a way that is maximizing your wealth (and tax savings) and getting you closer to reaching your goals.

Schedule a call with us today to start preparing your plan for the 2026 changes.

Find your tax savings

Our team includes

blue-checkmark Certified Financial Planners® (CFPs)
blue-checkmark Tax Consultants
blue-checkmark Attorneys and Estate Planning Experts
blue-checkmark Certified Financial Analysts® (CFAs)
blue-checkmark Certified Divorce Financial Analysts® (CDFA)

Explore helpful resources

Guide

2024 Tax & Wealth Planning Guide

Use this guide to help you incorporate proactive tax planning into your overall financial plan and ensure you’re maximizing your tax savings year-round.

Download your copy
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Financial planning can be overwhelming. We can help. Take the first step by requesting a complimentary consultation with a member of our team. We'll discuss your goals, strategies to reach them, and develop a financial plan that's just right for you.

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Please consult with an attorney or a tax or financial advisor regarding your specific legal, tax, estate planning, or financial situation. The information on this page is not intended as legal or tax advice.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNERTM, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

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