Year-End Tax Planning: What's Different for the 2026 Tax Year

This year brings several changes worth knowing about. The SALT deduction cap rose to $40,400 for 2026, with a phase-down starting at $505,000 of modified adjusted gross income. The Roth catch-up rule now requires catch-up contributions to be made as Roth rather than pre-tax for higher earners age 50 and older with FICA wages above $150,000. The estate and gift tax exemption increased to $15 million per individual or $30 million per couple. Standard deduction amounts also rose.

This is context for this year's specific opportunities rather than a list of rule changes to memorize. None of this is bad news. It is simply the backdrop for fall decisions.

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Turn Fall Decisions Into Tax Season Confidence

The small window between now and December 31 is where a lot of the spring tax outcome actually gets decided. The right moves depend on your life stage, and the decisions you make this fall touch investment, retirement income, and estate planning together, rather than in isolation.

Here's the bottom line: Fall is when you still have options. By January, most of those doors have closed.

If you do not already work with a financial advisor, now may be a good time to start that conversation. An advisor can help you coordinate retirement, tax, and estate planning so your fall decisions work together rather than at cross-purposes. For high earners, tax-efficient investing strategies can also help reduce the drag taxes have on your portfolio.

READ | Year-End Tax Planning: Your Life Stage Changes the Tax Planning Playbook