Last-Minute Tax Moves to Consider Before April 15
Tax season is well underway but if you haven’t filed yet, there may still be meaningful opportunities to reduce your tax bill or strengthen your financial plan before the April 15 deadline.
While most of your 2025 tax picture is already set, several strategic moves can still be made before filing. Here are key areas worth reviewing.
Max Out IRA Contributions
You have until April 15 to contribute to a Traditional or Roth IRA for the 2025 tax year.
For 2025:
- Contribution limit: $7,000
- Age 50+: $8,000 (includes catch-up)
Why it matters:
- Traditional IRA contributions may reduce taxable income.
- Roth IRA contributions grow tax-free for retirement.
- Even if you’re covered by a workplace plan, partial deductibility may apply depending on income.
For high earners, a backdoor Roth strategy may also be worth reviewing before filing.
Contribute to a Health Savings Account (HSA)
If you’re enrolled in a qualified high-deductible health plan, you can still make prior-year HSA contributions.
2025 limits:
- Individual: $4,150
- Family: $8,300
- Age 55+: Additional $1,000 catch-up
HSAs are uniquely powerful:
- Contributions are tax-deductible.
- Growth is tax-deferred.
- Qualified withdrawals are tax-free.
Few accounts offer triple tax advantages like this.
SEP IRA or Solo 401(k) Contributions (Business Owners)
If you’re self-employed or own a business, retirement contributions may still be available and potentially substantial.
- SEP IRA contributions can often be made up until the tax filing deadline (including extensions).
- Solo 401(k) contributions may allow both employee and employer portions, depending on setup timing.
For high-income professionals, this can significantly reduce taxable income.
Fund a Donor-Advised Fund (If Not Already Done)
Charitable contributions must be made by December 31 to count for the prior tax year. However, if you’re itemizing deductions and haven’t yet reviewed your charitable giving strategy, now is the time to plan intentionally for 2026.
For example:
- Bunching charitable gifts into one year
- Donating appreciated stock instead of cash
- Setting up a donor-advised fund for future flexibility
Even if the deduction window has closed, strategy planning should not wait until December.
Review 1099s and Correct Errors Early
Before filing, carefully review:
- 1099-DIV
- 1099-INT
- 1099-B
- 1099-R
- K-1s (if applicable)
Correcting errors now can prevent amended returns later.
Consider a Roth Conversion (Strategically)
A Roth conversion must be completed by December 31 to count for the prior year. However, early March is an excellent time to evaluate whether a Roth conversion makes sense for 2026 based on:
- Current tax bracket
- Future projected income
- Anticipated RMDs
- Estate planning goals
Tax season provides valuable clarity on your actual effective tax rate — making this an ideal planning window.
Double-Check Withholding & Estimated Payments
If you owed more than expected or received an unexpectedly large refund, that’s a signal.
Now is the time to:
- Adjust W-4 withholding
- Modify estimated tax payments
- Align withholding with bonuses, RSUs, or business income
Proactive adjustments now can prevent surprises next year.
Coordinate With Your CPA and Advisor
Tax filing is backward-looking. Financial planning is forward-looking.
Before April 15, consider:
- Reviewing your marginal tax bracket
- Evaluating retirement contribution strategy
- Assessing capital gains exposure
- Aligning tax strategy with long-term retirement planning
The most powerful tax strategies aren’t reactive they’re coordinated.
Final Thought: Don’t Let April 15 Be the End of the Conversation
Many people treat tax filing as the finish line. In reality, it should be the starting point for more intentional planning.
If you haven’t filed yet, there may still be meaningful moves available. And if you have filed, now is the perfect time to use that information to strengthen your plan for the year ahead.
If you’d like to review your situation before April 15, we’re happy to help you evaluate what options may still be available.