Year End Tax Planning Checklist
This post with worksheet is designed to make organizing your year-end planning a little easier. While not intended to be comprehensive, it can help you get ready to discuss your tax situation with your financial advisor and tax professional.
As the year draws to a close, now is the time to take a proactive look at your financial picture. Thoughtful tax planning before December 31 can help you make the most of available deductions, align your investments with your goals, and set the stage for a stronger start to 2026.
To help you get organized, we’ve created a Year-End Tax Planning Checklist, a practical guide to reviewing key areas of your financial life before year-end.
Why Year-End Planning Matters
A little preparation now can have a lasting impact. Many tax-saving opportunities disappear once the calendar turns to January, from maximizing retirement contributions to making charitable gifts or realizing investment losses to offset gains. The end of the year is also an ideal time to review your broader financial strategy and see how your investments, income, and estate plans work together to support your goals.
Where to Focus
Our checklist highlights some of the most important areas to consider as you prepare for tax season:
- Income and Investments:
Review your sources of income, evaluate whether you could benefit from tax-loss harvesting, and consider opportunities to manage when income is recognized. - Retirement Accounts:
Confirm that you’ve maximized your retirement contributions, including any catch-up provisions if you’re eligible. If you’re retired, make sure required minimum distributions (RMDs) are completed before year-end. - Charitable Giving:
Year-end is a perfect time to give back. You may be able to donate appreciated securities or make qualified charitable distributions directly from your IRA, potentially reducing your taxable income. - Small Business Opportunities:
Business owners can explore ways to manage income and deductions or make additional contributions to retirement plans before the deadline. - Estate and Legacy Planning:
Review your estate plan, update beneficiaries, and consider gifting strategies to reduce future estate taxes or help fund a loved one’s education.
Get Organized
Having the right documents on hand, such as last year’s tax return, W-2s, investment statements, and charitable receipts, can make your meeting with your tax professional much smoother.
The Bottom Line
Tax laws and personal circumstances change over time, so even familiar strategies deserve a fresh look. Coordinating with both your financial advisor and tax professional ensures your plan reflects the latest rules and your current goals.
At Voyager, we believe good planning starts with clarity. Use the checklist as a simple guide to spark conversations and identify opportunities before year-end. A little preparation now can help you enter the new year with confidence and peace of mind.
Download the Checklist
Get your Year-End Tax Planning Checklist and make sure you’re ready for the close of 2025. It’s a simple way to stay organized, uncover opportunities, and make informed decisions before December 31.
