At Spaugh Dameron Tenny, part of our role is helping clients start each year grounded in facts, not headlines, assumptions, or half-answers. When financial rules change, people want to understand what’s different, what still applies, and how those changes actually fit into their lives.
High-net-worth professionals and successful retirees all face this challenge.
Whether you’re navigating complex compensation, planning for retirement, managing the sale of a business, or thinking about how to support the next generation, annual updates to tax and savings rules can create uncertainty — or opportunity — depending on how they’re interpreted.
That’s why we believe clarity matters.
Below are the key financial numbers for 2026 that have been officially announced, along with context on how they typically appear in real-world planning decisions.
Employee contribution limit: $24,500
This reflects a $1,000 increase from 2025.
These higher catch-up limits are now fully in effect and can materially impact late-career savings strategies.
Contribution limit: $7,500
Catch-up (age 50+):
For 2026, IRS Roth IRA income limits begin to phase out at $153,000 for single filers/heads of household, and $242,000 for married filing jointly.
The mortgage interest deduction remains unchanged:
Despite periodic discussion, this cap has not been modified.
The IRS has announced updated HSA limits for 2026.
Eligibility still requires enrollment in an HSA-qualified high-deductible health plan.
The Annual Federal Gift Tax Exclusion for 2026 has been officially announced by the Internal Revenue Service.
There is no limit on the number of recipients, and gifts are not restricted to family members.
Still allowed in 2026:
(as long as payments are made directly to the institution)
The charitable mileage rate remains unchanged:
This rate is set by statute and does not adjust for inflation, unlike business mileage rates.
| Financial Item | 2025 | 2026 |
| 401(k) employee contribution | $23,500 | $24,500 |
| IRA contribution | $7,000 | $7,500 |
| HSA-Individual | $4,300 | $4,400 |
| HSA-Family | $8,550 | $8,750 |
| Annual gift exclusion | $19,000 | $20,000 |
| Charitable mileage | $0.14 | $0.14 |
The employee contribution limit is $24,500, with additional catch-up contributions available for individuals age 50 and older.
You may contribute up to $4,400 for individual coverage or $8,750 for family coverage, plus a $1,000 catch-up if you are age 55 or older.
You may gift up to $20,000 per recipient without federal gift tax. Married couples can jointly gift $40,000 per recipient.
No. The deduction remains capped at interest on $750,000 of qualified mortgage debt.
No. The charitable mileage rate is fixed at $0.14 per mile and does not change annually.
Knowing the numbers is necessary, but it’s not the same as knowing what to do with them.
At Spaugh Dameron Tenny, we begin by understanding your broader financial picture: income structure, career trajectory, family priorities, and risk comfort. From there, we help you evaluate how rule changes fit into a cohesive plan.
Good planning isn’t about reacting to updates. It’s about making thoughtful decisions within a long-term framework.
Our team of financial advisors helps clients understand how updated limits fit into the broader picture, so decisions aren’t made in isolation.
Sources:
IRS: https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500
Any discussion of taxes is for general information purposes only, does not purport to be complete or cover every situation, and should not be construed as legal, tax or accounting advice. Clients should confer with their qualified legal, tax, and accounting advisors as appropriate.
CRN202805-10153021
Shane Tenny, CFP®, is Managing Partner of Spaugh Dameron Tenny, where he helps high-net-worth individuals and families navigate complex financial decisions with clarity, structure, and confidence. Since joining the firm in 2000, Shane has worked with clients through major financial transitions, including career changes, liquidity events, retirement, and multigenerational planning. His approach combines comprehensive financial planning with a focus on behavioral finance, including advanced studies in Behavioral Economics through the University of Chicago Booth School of Business. Shane is the author of Your Next Million, former host of the Prosperous Doc® Podcast, and a nationally recognized financial advisor, speaker, and educator.
/Logo%20Horizontal%20(4).png?width=2000&name=Logo%20Horizontal%20(4).png)