As we begin to settle into the new year, it’s a good time to pause, get organized, and take advantage of tax opportunities that may not be available much longer. A little proactive planning now can help reduce stress—and potentially your tax bill—when 2026 tax deadlines arrive. Here are several key areas to review as you prepare for the year ahead.
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Energy Efficiency Upgrades: Gather Your Receipts Now!
If you made energy-efficient upgrades to your home before December 31, 2025, this is an especially important year to get your documentation in order. Many federal energy efficiency tax credits are set to expire after 2025, making this the last year they’re available under current rules. Some of the qualifying upgrades to keep in mind include:
- New energy-efficient windows or doors
- Furnace or HVAC system upgrades
- Added insulation
- Other eligible home energy improvements
To claim these credits, detailed records are essential. Be sure to gather and organize your receipts and invoices, manufacturer certifications, if provided, and the installation dates and costs. Having everything in one place now will make tax filing smoother and help ensure you don’t miss out on credits you’re entitled to claim.
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Review Your Tax Withholdings
Changes in income, filing status, multiple jobs, or life events can all affect whether you’re withholding too much—or too little—from your paycheck. The beginning of a new year is an ideal time to reassess. To help you with this task, the IRS provides a Tax Withholding Estimator that can guide you through this process and help you decide whether adjustments are needed:
https://www.irs.gov/individuals/tax-withholding-estimator
Fine-tuning your withholdings can help avoid an unexpected tax bill or a large refund, allowing your money to work more efficiently throughout the year.
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Retirement Contributions: Remember, you Have Until April 15, 2026!
Many people don’t realize that you can make contributions to certain retirement accounts up until the tax filing deadline and still have them count for the prior tax year. For 2025 taxes, you generally have until April 15, 2026 to contribute to both traditional IRAs and Roth IRAs. This flexibility gives you additional time to reduce your taxable income (for eligible Traditional IRA contributions), boost your long-term retirement savings, and make intentional decisions once you have a clearer picture of your finances. Even modest contributions can make a meaningful difference over time.
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A Strong Year for Charitable Giving
If charitable giving is part of your values, this can be a great year to be intentional about donations. Contributions to qualified charities may be tax-deductible if you itemize, and they can also be part of a broader financial and estate planning strategy. Make 2026 your charity era! When donating, be sure to consider if the organization is IRS-qualified, keep receipts or acknowledgment letters, and consider timing or “bunching” donations if it aligns with your overall plan. Giving thoughtfully can support causes you care about while also offering potential tax benefits.
Remember, tax planning isn’t just about deadlines — it’s also about aligning your financial decisions with your long-term goals and values. Whether it’s organizing receipts, reviewing withholdings, contributing to retirement accounts, or giving generously, small steps taken now can lead to greater clarity and confidence later.
As always, working with a trusted financial and tax professional can help ensure these strategies are tailored to your individual situation as you move into 2026. If you would like a helping hand strategizing your 2026 approach to finances, be sure to give us a shout - The Upbeat Financial team is here to help!
