November 14, 2025
Filed under: Business Owners, General
As we head into the final stretch of the year, most people (and most financial professionals) turn their focus toward “year-end action.” That work is important, but at Omega, we’ve learned that the most impactful planning doesn’t just look at December. It looks around corners.
If you want a successful, clear, and financially confident 2026, the work begins now.
Below are the key areas to focus on this season, both for wrapping up 2025 wisely and for setting yourself up for a strong start in the year ahead.
2025 Year-End Planning: What to Gather Now
Pulling the right information together early makes everything smoother for you, your CPA, and for us as your planning team. Here’s what to start collecting:
- Year-to-Date income (paystubs, business financials, bonuses)
- Medical expenses
- State and Local Taxes
With the proposed “Big, Beautiful Bill,” you may be able to deduct more than the long-standing $10K SALT limit, depending on income. There are income limitations but this is worth considering. - Windfalls (property sale, stock sale, consulting income, commission checks)
- Estimated tax payments made
- Charitable contributions and family gifts (Family gifts are not deductible but may be reportable)
- Expected retirement contributions (especially for self-employed individuals)
Behind the scenes, we are gathering tax-planning notes from your meetings throughout the year and compiling portfolio income/gains to share with your CPA.
Questions to Ask Your Tax Advisor Before Year-End
These simple questions can help you avoid surprises and uncover tax-saving opportunities:
- Is there anything I can still do to reduce my 2025 tax burden?
- Do I need to make an estimated tax payment by January 15, 2026?
- Am I on track for my April 15, 2026 filing, or should I expect a balance due?
For business owners, there may also be new opportunities to save on taxes, but many require action before year-end, so timing matters. We’re always happy to coordinate directly with your advisors.
Looking Ahead: What a Strong Start to 2026 Requires
Once year-end is under control, shift the conversation to 2026…not just your financial goals, but the personal or professional changes coming your way.
Planning questions for 2026:
- Expected cashflow needs?
- Any large one-time expenses?
Home renovation, major trip, college tuition?
- Any major life events on the horizon?
Wedding, sale of property or business, charitable capital campaign
- Larger-than-usual charitable or family gifts?
- Any significant personal or professional transitions?
Thinking through these items now helps us prepare strategies ahead of time, sometimes including accelerating or delaying certain actions into a different tax year to create better outcomes.
Why Starting Early Matters
The earlier we begin planning for 2026, the more thoughtful and creative we can be on your behalf. If we’ve already met with you this fall, simply send us an email; we may only need a quick update to move planning forward.
At Omega, we work with a select number of enterprising and entrepreneurial families seeking proactive, coordinated, human-centered advice that goes beyond the money. Ensuring you feel prepared, confident, and at peace with your tax and financial picture is core to that mission.
Please feel free to share this with someone who may benefit from our services.
lisa