Many tax-saving moves must happen before December 31, so a little planning in the fall pays off.
Retirement and benefits
Increase 401(k) contributions to reach the limit, use remaining FSA funds if your plan has a deadline, and fund an HSA if eligible. IRA contributions for the year can usually be made until the tax filing deadline.
Investments and giving
Harvest losses to offset gains, review capital gain distributions in taxable funds and consider donating appreciated securities. If you take required minimum distributions, complete them before year end. Consider a Roth conversion if your income is unusually low.
Paperwork and projections
Estimate this year's tax to check withholding. Gather receipts for deductions and update your address and dependents with your employer. Review whether bunching deductions makes sense and talk to a tax professional about complex situations.
Try the numbers
Use our Federal Income Tax Calculator to see this in practice. With its default example (Gross income: $95,000; Filing status: Single; Pre-tax adjustments (401k, HSA…): $6,000), it shows federal income tax: $10,750. Adjust the inputs to match your situation.
Key takeaways
- Many moves have a December 31 deadline.
- Project your tax early enough to act.
- Appreciated stock is a tax-smart gift.
This article is for general education and is not personalized financial, tax or legal advice. Rules and limits change; confirm current figures with official sources such as IRS.gov, SSA.gov and StudentAid.gov, or consult a qualified professional. © 2026 FinanzCalc.