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Why Timing Matters for 2026 Tax Planning
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Published in Business and Finance on Friday, December 26th 2025 at 12:41 GMT by Forbes- 🞛 This publication is a summary or evaluation of another publication
- 🞛 This publication contains editorial commentary or bias from the source
How to Talk to Your CPA Now to Save Big in 2026
When 2025 is in the rearview mirror and the first quarter of 2026 is just around the corner, many business owners and high‑income individuals are looking to the one person who can help them navigate the tax minefield: the Certified Public Accountant (CPA). A Forbes article by Alejandro Rojas, titled “Ask These Questions to Your CPA Before 2026 to Save Money Next Year,” outlines a pragmatic playbook for making the most of your CPA’s expertise as 2026’s tax landscape begins to take shape. Below is a distilled guide that captures the article’s core advice, with a touch of context from the links the author follows to flesh out key points.
1. Why Timing Matters
- The 2025‑2026 Tax Window – The article stresses that the closer you get to the 2026 filing season, the less time you have to adjust your withholding or make strategic changes. By reaching out in late 2025 or early 2026, you gain a two‑month window to refine your tax strategy.
- Anticipated Tax Code Changes – According to a link to the IRS “Tax Law Revisions” page, several proposed amendments are expected to take effect in 2026, including adjustments to the capital gains tax rate and a broadened definition of “qualified business income.” CPA input is essential to understand how these changes will impact your liability.
2. The Essential Question Set
The article breaks down a checklist of high‑yield questions that should be asked during a CPA consultation. The list is divided into personal, business, and state‑specific categories.
Personal Tax Questions
| Question | Why It Matters |
|---|---|
| What is my current marginal tax bracket, and how will 2026’s changes shift it? | A shift can drastically alter the amount you owe or your refund. |
| Will I be able to take advantage of the 2026 “high‑income” deduction for charitable contributions? | New limitations on donor‑advised fund contributions may reduce deduction potential. |
| How do I optimize my retirement contributions under the new 2026 IRA contribution limits? | The limit increases to $7,000 for those under 50 and $8,500 for those 50 and older, offering a larger tax‑deferred pot. |
Business‑Specific Questions
| Question | Why It Matters |
|---|---|
| Should I restructure my entity (e.g., LLC to S‑Corp) to take advantage of the 2026 pass‑through tax rules? | S‑Corp status can lower self‑employment taxes if you’re a small‑business owner. |
| How do the 2026 depreciation schedule changes affect my equipment purchases? | Certain “Section 179” thresholds increase, allowing more immediate expense deduction. |
| What is the optimal timing for large capital expenditures to maximize tax savings? | The new “cash‑basis” rules can shift the deductible amount of equipment costs. |
State & Local Tax Questions
| Question | Why It Matters |
|---|---|
| How will 2026’s state‑specific tax reforms affect my net operating loss (NOL) carryback/carryforward rules? | Some states are tightening NOL utilization; timing can preserve credit. |
| Do I qualify for new local incentive programs that could reduce my effective tax rate? | Several cities are offering tax abatements for tech‑sector investments in 2026. |
3. Leveraging CPA Expertise on 2026‑Specific Issues
A. Capital Gains and Asset Timing
The Forbes article quotes the CPA’s perspective on a “double‑dip” strategy: sell appreciated assets that have already met a 10‑year holding period before the 2026 rule change, then hold new gains until the next cycle. By planning the disposition of assets in 2025, you can lock in lower rates for gains realized in 2026.
B. Business Expense Maximization
- R&D Credits – The 2026 expansion of the research credit to include certain AI and machine‑learning expenses means businesses should keep meticulous records of related costs. The CPA can help file the correct Form 6765.
- Home‑Office Deduction – With the new “simplified” home‑office deduction for 2026 (up to $5,000), the article urges businesses to re‑evaluate their work‑from‑home setups.
C. Estate Planning and Gift Tax Implications
The article links to the IRS’s “Estate Tax Exemption” page, explaining that the 2026 exemption remains at $12.92 million. The CPA can advise on whether to structure a “generation‑skipping transfer” or a “gift strategy” to reduce the estate tax hit for heirs.
4. Actionable Tips to Maximize CPA Value
- Bring Your Own Data – Compile a clean spreadsheet of 2025 income, expenses, and capital assets. A well‑organized dataset allows the CPA to run scenario models quickly.
- Ask for a 2026 Tax Forecast – A CPA can produce a projected tax statement based on your latest data, helping you spot hidden liabilities early.
- Request a “Tax‑Savings Roadmap” – The article recommends that CPAs provide a written plan outlining steps (e.g., “Invest in Section 179 eligible equipment by March 15”) with deadlines and expected savings.
- Plan for Quarterly Withholding Adjustments – A CPA can recommend a withholding schedule adjustment to prevent a large year‑end payment or refund.
5. The Bottom Line
In sum, the Forbes piece champions proactive, data‑driven conversations with your CPA to take advantage of 2026’s evolving tax rules. By asking the right questions—spanning personal, business, and state realms—business owners and high‑income individuals can reduce their tax burden, optimize cash flow, and align their financial strategy with the new legal landscape. The article’s links to IRS guidance, state incentive pages, and tax‑planning tools underscore the importance of evidence‑based planning. The key takeaway? Talk to your CPA now, ask these specific questions, and you’ll be positioned to save money in 2026 and beyond.
Read the Full Forbes Article at:
[ https://www.forbes.com/sites/alejandrarojas/2025/12/26/ask-these-questions-to-your-cpa-before-2026-to-save-money-next-year/ ]
