Maximizing Strategic Year-End Tax Planning — As the year ends, taxpayers have an important chance to review their finances and make moves that can lower their 2025 tax bill. With the state and local tax (SALT) deduction limit increasing from $10,000 to $40,000, more people may benefit from prepaying state taxes before year-end—especially those who itemize deductions.
If your income has increased in 2025, confirm your estimated payments and withholdings match your expected liability. Adjusting year-end withholdings can help avoid penalties since these are treated as paid evenly throughout the year. It’s also a good time to maximize retirement contributions—401(k) and 403(b) limits are $23,500, plus catch-up options for those 50 and older. Taxpayers not covered by employer plans should review IRA or Roth IRA opportunities.
With the higher SALT limit, charitable gifts are more likely to provide a tax benefit. Consider a Qualified Charitable Distribution (QCD) from an IRA to give directly to charity while lowering taxable income. Those turning 73 in 2025 must take required minimum distributions to avoid penalties, and families can make tax-free gifts up to $19,000 per person ($38,000 per couple) before year-end.
Year-end planning isn’t just about closing out this year—it’s about setting up for success in the next. Reviewing your goals and acting strategically now can help maximize savings and position you for a strong start in 2026.
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Maximizing Strategic Year-End Tax Planning — As the year ends, taxpayers have an important chance to review their finances and make moves that can lower their 2025 tax bill. With the state and local tax (SALT) deduction limit increasing from $10,000 to $40,000, more people may benefit from prepaying state taxes before year-end—especially those who itemize deductions.
If your income has increased in 2025, confirm your estimated payments and withholdings match your expected liability. Adjusting year-end withholdings can help avoid penalties since these are treated as paid evenly throughout the year. It’s also a good time to maximize retirement contributions—401(k) and 403(b) limits are $23,500, plus catch-up options for those 50 and older. Taxpayers not covered by employer plans should review IRA or Roth IRA opportunities.
With the higher SALT limit, charitable gifts are more likely to provide a tax benefit. Consider a Qualified Charitable Distribution (QCD) from an IRA to give directly to charity while lowering taxable income. Those turning 73 in 2025 must take required minimum distributions to avoid penalties, and families can make tax-free gifts up to $19,000 per person ($38,000 per couple) before year-end.
Year-end planning isn’t just about closing out this year—it’s about setting up for success in the next. Reviewing your goals and acting strategically now can help maximize savings and position you for a strong start in 2026.
Making Data Actionable with Financial Planning & Analysis
It Depends
8 minutes 27 seconds
10 months ago
Making Data Actionable with Financial Planning & Analysis
At Hantzmon Wiebel, one of the many services we specialize in is providing expert financial planning and analysis (FP&A), which empowers businesses and organizations to make informed decisions. FP&A serves as a valuable bridge between raw data and actionable insights, allowing business leaders to have the tools and understanding necessary to drive success.
What Is FP&A?
FP&A involves four key points: planning, forecasting, analysis, and reporting. These four components work together to paint a clear picture of complex data. For business owners, this means having the ability to understand their position financially and confidently make decisions that align with strategic goals. Chapman Yoder, one of our skilled FP&A analysts, explains how “Leaders don’t want to spend their time digging into data—they want to know what the story is and how to take actionable steps.” Our FP&A team excels in turning numbers into stories, followed by actionable ways to adjust your businesses financial strategy.
Proven Success in the Past
One nonprofit we worked with sought guidance on improving their product sales margins. Through thorough financial analysis, we uncovered costs they hadn’t accounted for, enabling us to provide multiple pricing scenarios. We demonstrated how a 10% price increase, even with a 20% drop in demand, would still result in healthier margins. This gave the organization the confidence they needed to adjust their pricing strategy and increase profitability.
How FP&A Can Benefit You
Many perceive FP&A as a luxury or an unnecessary expense, but the reality is that it’s an investment. With accurate data, expert analysis, and actionable insights, informed decision-making that enhances growth and profitability becomes an indispensable asset. Our team is committed to helping clients navigate their financial journeys with confidence. Through our service, we bridge the gap between numbers and strategy, helping your organization thrive no matter the industry. To learn more about this topic and how we can support your success, listen to our full podcast on Apple Podcasts, Spotify, or your platform of choice.
It Depends
Maximizing Strategic Year-End Tax Planning — As the year ends, taxpayers have an important chance to review their finances and make moves that can lower their 2025 tax bill. With the state and local tax (SALT) deduction limit increasing from $10,000 to $40,000, more people may benefit from prepaying state taxes before year-end—especially those who itemize deductions.
If your income has increased in 2025, confirm your estimated payments and withholdings match your expected liability. Adjusting year-end withholdings can help avoid penalties since these are treated as paid evenly throughout the year. It’s also a good time to maximize retirement contributions—401(k) and 403(b) limits are $23,500, plus catch-up options for those 50 and older. Taxpayers not covered by employer plans should review IRA or Roth IRA opportunities.
With the higher SALT limit, charitable gifts are more likely to provide a tax benefit. Consider a Qualified Charitable Distribution (QCD) from an IRA to give directly to charity while lowering taxable income. Those turning 73 in 2025 must take required minimum distributions to avoid penalties, and families can make tax-free gifts up to $19,000 per person ($38,000 per couple) before year-end.
Year-end planning isn’t just about closing out this year—it’s about setting up for success in the next. Reviewing your goals and acting strategically now can help maximize savings and position you for a strong start in 2026.
