2026 Year-End Financial To-Dos

The weeks between now and December 31st are your last opportunity to take advantage of several 2026 planning strategies. A handful of decisions have firm deadlines, and a few can't be fixed or revisited after the fact.

Taking the following steps now can help you keep more of what you've earned, avoid missed deadlines, and start 2027 with a well-coordinated plan.

5 Topics to Discuss with Your Financial Advisor and/or Accountant

The decision to implement a certain strategy depends on your full financial picture and goals. They shouldn’t be done in a silo, so they're best made with your team of professionals.

1. Your tax strategy
Has your income changed this year? If so, you may need to adjust withholding or estimated payments. This is also the time to talk about tax-loss and tax-gain harvesting to offset gains or reset your cost basis.

2. Roth conversion planning
Executing a Roth conversion by converting part of a traditional IRA to a Roth IRA means paying tax now in exchange for tax-free growth and withdrawals later. It can be a smart move in a lower-income year, or if you want more flexibility in retirement. But the added income can affect your tax bracket, Medicare premiums, and other thresholds, so timing and amount matter.

3. Your charitable giving
The rules for charitable deductions changed for 2026. Itemizers can now deduct charitable gifts only to the extent they exceed 0.5% of their adjusted gross income, and top-bracket taxpayers face a cap on the deduction's value. Those who take the standard deduction can now claim a limited deduction for cash gifts.

Depending on your situation, strategies like bunching gifts, donor-advised funds, or gifting appreciated assets may be worth exploring with your advisor. If you're 70½ or older, ask about Qualified Charitable Distributions from your IRA, which can also count toward your RMD.

4. Your estate plan and beneficiaries
Have there been any major life changes, like a marriage, new child or grandchild, move, or loss of a loved one? Confirm your will, trust, and powers of attorney still reflect your wishes. Beneficiary designations override your will, so review them on every account – especially retirement plans and life insurance.

5. Your investment strategy
Portfolios can drift over time. Confirm that your investments are still aligned with your risk tolerance, time horizon, and goals, and if there are other strategies to consider.

6 Tasks to Do on Your Own

These are quick wins you can complete without an appointment.

1. Review your insurance coverage.
   Check homeowners, auto, life, disability, and long-term care policies for adequate coverage and current beneficiaries.
2. Use your health benefits.
   Use any FSA balance on eligible expenses. Consider contributing more to your HSA, which offers unique tax advantages and can double as a retirement savings tool.
3. Gather your documents.
   Collect charitable receipts, medical expenses, and account statements so tax time is smoother.
4. Update your budget and savings goals.
   Look back at what you spent and what you saved this year as a starting point and adjust for any changes you expect for next year.
5. Take stock of your accounts.
   Consolidate old workplace plans or unused accounts; and make sure you know where everything is and who to contact.
6. Schedule your 2027 check-ins.
   Get your meetings with your advisor, accountant, and estate attorney on the calendar now.

Frequently Asked Questions

Does the new Roth catch-up rule apply to me?

It applies only if you're 50 or older and made more than $150,000 in wages from your employer in 2025. If so, your 401(k) catch-up contributions must now go in as Roth (after-tax) contributions. Your regular contributions aren't affected. Your plan also has to offer a Roth option, so check with your employer or advisor.

How did the charitable deduction rules change?

For 2026, itemizers can only deduct giving above a small percentage of their income, and top-bracket taxpayers see a cap on the deduction's value. If you take the standard deduction, you can now claim a limited deduction for cash gifts to qualified charities. Gifts to donor-advised funds don't count toward that new deduction, so it helps to plan with your advisor or accountant before you give.

Is bunching charitable gifts still worth considering?

For many people, yes. Combining several years of giving into one year can help you clear the new income floor and exceed the standard deduction. A donor-advised fund lets you take the deduction in one year and spread the grants to charities over time. Whether it works for you depends on your income and how much you give.

Do I still need a Qualified Charitable Distribution (QCD)?

If you're 70½ or older and charitably inclined, a QCD may be more valuable than ever. It sends money directly from your IRA to charity, counts toward your RMD, and isn't subject to the new deduction floor or cap. It also works whether or not you itemize.

Do I still need an estate plan if the exemption is so high?

Yes. The federal estate tax exemption is historically high, but an estate plan does much more than manage taxes. It names who makes decisions if you can't, helps protect your family, and can avoid probate. Some states also have their own estate or inheritance taxes with much lower thresholds.

Head Into the New Year with Confidence

Year-end planning decisions are most effective when they’re made within the context of your broader financial plan, not one at a time. Your tax strategy, charitable giving, retirement savings, and estate plan are all connected and your financial advisor can help you adjust all for life changes, new tax rules, and market changes.

Please consult with an attorney or a tax or financial advisor regarding your specific legal, tax, estate planning, or financial situation. The information in this article is not intended as legal or tax advice.