OBBBA: Ten tax law changes taking effect in 2026

The One Big Beautiful Bill Act sets up a very different tax landscape for 2026, creating both planning opportunities and new pitfalls. Advisors will need to navigate a more complex mix of rules around charitable giving, as non-itemizers gain a modest above-the-line deduction while higher-income clients face tighter limits on itemized and AMT relief. Business owners see slightly more room to capture the QBI deduction, even as top-bracket taxpayers experience muted value from traditional deductions.

Families benefit from richer dependent care provisions and expanded use of 529 plans for K–12 costs, alongside broader HSA access through marketplace plans. At the same time, changes to SALT caps and gambling loss offsets may quietly raise effective tax rates, underscoring the need for proactive modeling and multi-year tax-aware strategies heading into 2026.