2026 tax breaks and 2027 Social Security, calculated
Four new deductions apply from 2025 through 2028. See what each one is worth to you for the return you will file in 2027. No sign-up, and nothing you enter leaves your browser.
Tax refundRefund or balance due for 2026No tax on tipsDeduct up to $25,000 of tipsNo tax on overtimeDeduct the overtime premiumSenior deduction$6,000 extra for age 65+Car loan interestUp to $10,000 of interestSocial Security 2027Your 3.6% raise in January 2027When to claim Social SecurityCompare claiming at 62, 67 and 70Social Security earnings testWorking while collecting in 2027Self-employment tax15.3% SE tax and quarterly paymentsCapital gains tax0%, 15% and 20% brackets for 2026Earned income creditRefundable credit up to $8,231Salary after taxTake-home pay for any salaryHourly to salaryAnnual pay and take-homeTip calculatorTip and split the billTipped jobsAll 71 qualifying tipped jobs
What's new for tax year 2026
- Standard deduction $16,100 single, $32,200 married filing jointly, $24,150 head of household
- Child tax credit $2,200 per child, up to $1,700 refundable
- New deductions on Schedule 1-A: tips (up to $25,000), overtime premium (up to $12,500 / $25,000), seniors ($6,000 each), car loan interest (up to $10,000)
- Brackets from 10% to 37%; the 37% rate starts at $640,600 single and $768,700 joint