Tax Planning10 pages

Tax Deduction Cheat Sheet for 2026

Never miss a deduction again

A comprehensive 10-page reference covering every common tax deduction and credit for individuals and families. Organized by category with qualification criteria, documentation requirements, and maximum amounts for the 2026 tax year.

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What's Inside

100+ deductions organized by category (income, housing, medical, education)
Standard vs itemized deduction decision matrix
Self-employment deduction quick reference
Tax credit vs deduction comparison chart
Documentation checklist for audit protection

Tax Deduction Cheat Sheet for 2026

10-page PDF guide

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Detailed Breakdown

Above-the-Line Deductions

IRA contributions (traditional) - up to $7,000 ($8,000 if 50+)
Student loan interest - up to $2,500
HSA contributions - $4,300 individual / $8,550 family
Self-employment tax deduction (50% of SE tax)

Itemized Deductions

State and local tax (SALT) - up to $10,000 cap
Mortgage interest on first $750K of debt
Medical expenses exceeding 7.5% of AGI
Charitable contributions - cash and non-cash rules

Tax Credits (Dollar-for-Dollar Savings)

Child Tax Credit - up to $2,000 per qualifying child
Earned Income Tax Credit - up to $7,830 (3+ children)
Education credits: American Opportunity & Lifetime Learning
Clean vehicle credit - up to $7,500

Self-Employment Deductions

Home office deduction (simplified: $5/sq ft, up to 300 sq ft)
Vehicle expenses (standard mileage vs actual expenses)
Health insurance premiums (100% deductible)
Retirement contributions (SEP-IRA up to $69,000)

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Related Free Calculators

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Tax Bracket Calculator

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Self-Employment Tax Calculator

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Paycheck Calculator

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Frequently Asked Questions

Should I take the standard deduction or itemize?

For 2026, the standard deduction is $15,700 (single) or $31,400 (married filing jointly). Our cheat sheet includes a decision matrix to help you compare your potential itemized deductions against the standard amount.

Are these deduction amounts accurate for 2026?

Yes, all amounts reflect IRS-announced 2026 tax year figures including inflation adjustments to brackets, standard deductions, and contribution limits.

Does this cover business deductions too?

This cheat sheet covers individual and self-employment deductions. For more comprehensive business deductions, check our Small Business Tax Savings Playbook.