Tax moves that still count after New Year's

Still open until April 15, 2027

Traditional or Roth IRA

For 2026 you can contribute up to $7,500 to IRAs, plus a $1,100 catch-up if you're 50 or older. A traditional IRA contribution may be deductible, depending on your income and whether you or your spouse has a workplace plan. Roth contributions aren't deductible and have their own income limits, but they're also allowed until April 15. A working spouse can fund an IRA for a spouse with little or no income.

Health savings account

If you had a high-deductible health plan in 2026, you can put up to $4,400 (self-only coverage) or $8,750 (family coverage) into an HSA, plus $1,000 more if you're 55 or older. It's deductible even if you don't itemize, grows tax-free, and comes out tax-free for medical costs. The deadline is April 15, not the extended date.

The contribution is the easy part. Make sure the custodian codes it for the right year, or it counts for the wrong one.

Open even later: the SEP-IRA

Self-employed people and small business owners can set up and fund a SEP-IRA as late as the due date of the return, including extensions. For a sole proprietor on extension, that's October 15, 2027 for tax year 2026. That makes it one of the few big deductions we can still add after we've seen the final numbers.

A solo 401(k) can allow larger contributions at some income levels, but the rules on when it has to be set up and when you must elect your employee deferral are stricter. Generally, the deferral decision belongs before December 31. Ask us before you count on it.

Already closed on December 31

• Charitable giftsMust be made by December 31. Starting in 2026, cash gifts to charities give a deduction of up to $1,000 ($2,000 married filing jointly) even if you take the standard deduction.
• Property tax and state tax paymentsOnly count toward the itemized state and local tax deduction (capped at $40,400 for 2026) in the year they're paid.
• Required minimum distributionsDue by December 31 each year, except the first one, which can wait until April 1 of the next year.
• Selling investments for a lossThe sale has to happen by the last trading day of the year to offset that year's gains.

And one payment that isn't a deduction

The fourth-quarter estimated payment for 2026 is due January 15, 2027. If you're self-employed or had a big gain, that payment keeps the underpayment penalty away. Our estimated tax guide explains the safe-harbor math.