You Filed Your Taxes. Moving On?

Tax season is over, and it’s tempting to move on. But this is one of the best windows of time in the year to plan ahead. Your financial numbers are fresh, your situation is clear, and small moves now can make a meaningful difference by next April.

Here are a few key areas worth a quick look:

Take a second look at your returns

Don’t file your federal and state returns and then forget about them. Take a few minutes to review each return and ask yourself:

• Did I owe more than expected or receive large refunds?
• Were there tax deductions or credits that I missed?
• Did any life changes impact my outcomes?

Use these insights to adjust withholdings, estimated payments, or savings strategies now so you can make the most of your benefits by next April.

Maximize 529 Plan contributions early

If you’re saving for education, getting started early can make a big difference.

• More time in the market means more potential tax-free growth.
• Some states offer tax benefits for contributions.

Setting up a monthly contribution now may be a simple but powerful move.

Take advantage of HSAs

Health Savings Accounts offer a unique triple tax advantage:

• Tax-deductible contributions, tax-deferred growth, and tax-free withdrawals for qualified medical expenses.

If you are eligible, consider maximizing your HSA contributions this year, thereby treating the savings as a long-term investment tool rather than simply a heath expenses spending account.

Evaluate your charitable giving strategies

A little planning can go a long way with charitable giving.

Consider:

• Donor-advised funds (DAF) to aggregate your contributions, aiming for the maximum tax deduction.
• Donating appreciated securities instead of cash to help avoid capital gains taxes.
• Directly from your IRA (if you are at least 70 years of age), thus eliminating tax consequences on your gift.

Final thoughts and next steps

The most effective tax strategies are built throughout the year, rather than a one-stop at filing time. Taking a few small steps now can make next tax season more efficient, less stressful and possibly less expensive! If you want to have a conversation about how to turn this year’s insights into a proactive money-saving plan, feel free to contact Entrust. I am easy to reach josephm@entrustfinancial.com.

Disclosure: This blog is intended for informational purposes only and should not be considered investment, tax, or legal advice. Tax laws and regulations are subject to change, and individual circumstances vary. Always consult a qualified tax professional or preparer to ensure your specific tax needs are met. 4.20.2026