A: Yes—while the calendar year has ended, there are still smart moves you can make to reduce your tax burden before filing. Here are a few worth considering:

You have until April 15, 2026 to make IRA contributions that count for the 2025 tax year.

These contributions may reduce your taxable income significantly—depending on your income and retirement plan access.

• Self-employed? Fund a SEP IRA instead.
You may have until October 15, 2026 (with an extension) to make contributions that lower your 2025 income.

• Contribute to an HSA (Health Savings Account)
If you had a high-deductible health plan (HDHP) in 2025, you can still contribute to an HSA until April 15.

Contributions count for 2025 and reduce your taxable income—plus withdrawals for medical expenses are tax-free.

• Make Your Final Estimated Tax Payment for 2025
The Q4 estimated tax deadline is January 15, 2026.

Prepaying your final tax due now may help you avoid penalties for underpayment—especially if you’re self-employed or had uneven income throughout the year.

Bottom Line:
Even after December 31, you still have meaningful options to strengthen your tax position. A few timely moves in January or February can reduce taxes, avoid penalties, and start your year on strong financial footing.

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Disclaimer: This column provides general financial information and should not be considered legal, investment, or tax advice. Always consult a qualified professional for personal guidance.