You filed. You’re done. Right?

Whether you filed in April or bought yourself more time with an extension, the instinct is the same: close the book, take a breath, and not think about taxes for a while. We get it.

But here's what we see every year: those who save the most on taxes aren't the ones who scramble in December. They're the ones who start planning now, while there's still time to be strategic rather than reactive.

Why?

The most impactful tax strategies aren't quick fixes. They require months of lead time to model, coordinate with your other advisors, and implement properly. A Roth conversion should be based on a full-year income projection. An estate gifting strategy needs legal documents drafted and funded. A business entity restructuring can't happen in a week.

And this year, there's more to plan around than usual.

The One Big Beautiful Bill, signed on July 4, 2025, presents new deduction limits, tighter thresholds, expanded exemptions, and temporary provisions that expire in just a few years.

The opportunities are real. But most of them reward early, intentional action, not a year-end scramble. Here's where to start based on your situation.

Retirees

The rules around retirement income, charitable giving, and estate planning shifted. Some in your favor, some not.

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Are you withdrawing from the right accounts in the right order?

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• With the TCJA key individual rate changes now permanent, Roth conversion planning still matters. A well-timed conversion in a lower-income year can potentially save you significantly.
• A 0.5% AGI floor now applies to itemized charitable deductions, and higher-income taxpayers face a new limitation on the tax benefit of itemized deductions. That means your charitable giving approach, like a donor-advised fund, QCD, or bunching strategy, may need to be revisited.
• Take advantage of the new $6,000 senior deduction (per person), but note the income phaseout. If your MAGI exceeds $75,000 single ($150,000 joint), this benefit starts to shrink. This deduction is available for tax years 2025 through 2028 and is in addition to the existing age-65 standard deduction increase.

High-Earning Executives

You may have breathed a sigh of relief that rates didn't go up. But the new law introduced wrinkles that could quietly cost you.

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Are you now subject to the Alternative Minimum Tax?

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• Many executives who haven't worried about AMT in years are back in its crosshairs. The OBBBA made the phaseout more aggressive in 2026, with higher-earner thresholds now creating a greater chance of exposure.
• The SALT deduction rose to $40,400. Welcome relief if you're in a high-tax state, but it phases down above $505,000 MAGI (for married couples filing jointly), but it cannot drop below $10,000. Timing income and deductions around that threshold matters.
• If you earned over the applicable prior-year wage threshold, your 401(k) catch-ups must now go into a Roth account. That changes your current-year tax picture. And if you're age 60-63, the "super catch-up" lets you contribute up to $11,250. If the plan does not offer Roth, catch-up contributions may not be available.

Business Owners

If you filed an extension, you're already in planning mode. Let’s use that momentum. The law handed business owners some significant wins, but only if you're structured to take advantage.

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Is your business entity still the right one for this tax environment?

Take Action

• The QBI deduction is now permanent, which means you have time to optimize. But "permanent" also means it's worth making sure your entity structure maximizes this 20% deduction year after year. The 2026 rules also expand the phase-in ranges, and eligible active business owners may qualify for a minimum deduction.
• The 100% bonus depreciation is back for qualified property acquired after January 19, 2025. If you've been delaying equipment purchases or capital investments, the timing is now.
• SEP IRAs, Solo 401(k)s, and defined benefit plans all interact differently with the new rules. The right plan can reduce your taxable income while accelerating your personal wealth.

The Best Tax Plans Are Built Now, Not in Q4.

The strategies that move the needle take months to design, coordinate, and execute. Don’t wait until November to act.

If you'd like to discuss how these changes apply to your specific situation, simply contact us.