10/26/2026
There may still be opportunities to reduce your 2026 tax bill, even after December 31.
When reviewing year-end tax planning opportunities, Eric Negron points to a few retirement and healthcare savings strategies worth considering.
The first is contributing to a pre-tax retirement account.
Depending on the type of account and your eligibility, those contributions may reduce your taxable income for the year.
But there's another opportunity that some families may overlook.
If you're married and your spouse doesn't work outside the home, you may still be able to contribute to an IRA in their name.
It's called a spousal IRA contribution.
Under the applicable rules, an eligible spousal IRA contribution may also help reduce your household's taxable income.
And if you're enrolled in a high-deductible health plan, contributing to a Health Savings Account (HSA) may offer another opportunity for tax savings.
Here's an important deadline to know.
Eligible IRA and HSA contributions for the 2026 tax year can generally be made until April 15, 2027.
That means some tax-planning opportunities remain available after the calendar year ends.
The right strategy depends on your income, eligibility, contribution limits, and overall financial situation.
Understanding where you stand financially is the starting point.
From there, you can evaluate which opportunities make sense and when you need to act.
Year-end tax planning includes knowing which deadlines apply to you.
Disclaimer: This is not tax advice. Please consult with your tax professional.