Tax planning has a way of sneaking up on people. By the time you prepare your return in March or April, many of the most meaningful opportunities are no longer available. Many of the best year-end tax moves need to be considered while there is still time to act, which is why the final stretch of the calendar year is often the right moment to have a thoughtful conversation with your CPA.

This does not mean every family needs a long list of tax maneuvers. More often, it means stepping back and asking a few good questions before December 31. Sometimes the answer is to act. Sometimes the answer is simply to confirm that nothing has changed. Either way, clarity tends to be valuable. 

So, what are some of the areas you should look out for?
 

Giving meaningfully

For some families, the conversation starts with gifting. In 2026, the annual federal gift exclusion is $19,000 per recipient, and the lifetime gift and estate exemption is $15 million per person. Those are generous numbers, but the planning around them is not always as simple as it sounds. If larger gifts are being considered, or if a married couple plans to split gifts, it is worth asking your CPA what needs to be reported and whether a filing will be required even if no tax is due. 

Harvesting intentionally

A difficult market can create opportunities to harvest losses, offset gains, and carry unused losses forward. In other years, it may make sense to realize gains on purpose, particularly if income is unusually low now or expected to be higher in the future. Those decisions are rarely about taxes alone, but taxes can meaningfully affect the outcome. 

Converting strategically

Roth conversions often fit into that same conversation. In the right year, converting a portion of a traditional IRA to a Roth can be a sensible move, especially when income is lower than usual or when future tax rates are a concern. For married couples filing jointly in 2026, taxable income above $211,400 moves into the 24% bracket, so some families may want to discuss whether converting only enough to stay within a desired bracket makes sense. 

Donating charitably

Charitable giving is another area where timing can matter more than many people realize. A donor-advised fund can be a useful tool for families who already give regularly and want more flexibility. It may allow you to make the tax deduction this year while deciding later which charities will receive the grants. And when appreciated securities are used instead of cash, the tax benefit can be especially attractive, subject to the usual AGI limits. 

Saving wisely

Retirement and health savings accounts are worth one more look as well. These are easy to assume are already handled, but year-end is a good time to confirm that contributions were actually completed. For 2026, the 401(k) deferral limit is $24,500, IRA contributions rise to $7,500, and HSA limits are $4,400 for individuals and $8,750 for families, with catch-up provisions applying in certain cases.

Residing proactively

For anyone who divides time between states, residency should not be treated as an afterthought. Questions of domicile often come down to much more than a simple day count. Where you vote, where you maintain your primary home, and how your broader life is structured can all matter. That is the kind of issue that is far easier to address proactively than defensively. 

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Where to start the conversation

Perhaps the simplest question to ask your CPA is also one of the most useful: what changes next year? Tax law rarely stays still forever, and even when major changes are not imminent, income levels, charitable plans, business activity, or estate planning goals may shift enough to make one year different from the next. 

The broader point is not that every client needs a complex strategy before year-end. It is that good planning usually comes from having the conversation early enough for good options to still be available.