As the summer winds down and the leaves begin to turn, fall naturally becomes a season of reflection and preparation. Just as you might clean out closets or get your home ready for colder months, it’s also the perfect time to get your finances in order before the year ends.
At CKS Summit Group, we believe proactive planning now can help set you up for success later, whether it’s minimizing taxes, strengthening your retirement strategy, or positioning your portfolio for the year ahead.
Here are some key steps to consider this fall:
1. Maximize Retirement Contributions
Before December 31, make sure you’ve contributed as much as possible to your retirement accounts:
- 401(k)s & 403(b)s: 2025 limits allow up to $23,000 (plus $7,500 catch-up for those 50+).
- IRAs: $7,000 limit ($8,000 if age 50+).
- Consider Roth conversions while rates are historically low, especially with the 2026 sunset of the Tax Cuts and Jobs Act on the horizon.
These moves don’t just grow your nest egg – they can help reduce your taxable income for the year.
2. Harvest Tax Opportunities
Fall is an ideal time to review your portfolio for tax-loss harvesting opportunities. Selling underperforming investments can help offset gains elsewhere, reducing your overall tax liability.
Additionally, this is the time to rebalance your portfolio to ensure your allocations still align with your long-term risk tolerance and goals.
3. Review Charitable Giving Strategies
The holidays often inspire generosity, but your giving can also be tax-smart.
- Donor-Advised Funds (DAFs) allow you to bundle multiple years of contributions for a larger deduction this year.
- Consider Qualified Charitable Distributions (QCDs) if you’re over age 70½ – giving directly from your IRA can satisfy Required Minimum Distributions (RMDs) while helping to avoid taxable income.
4. Plan for RMDs and Income Management
If you’re age 73 or older, don’t forget to take your RMDs before year-end to avoid hefty IRS penalties. Even if you’re not there yet, fall is a good time to think ahead about how future withdrawals will impact your tax bracket, Social Security taxation, and Medicare premiums.
5. Prepare for Upcoming Tax Changes
With the expiration of current tax rates in 2026, now is the time to consider strategies like Roth conversions, gifting, and income-shifting to take advantage of today’s historically lower rates. Fall provides the runway to make adjustments before it’s too late.
Why Fall Is the Perfect Time to Act
Unlike the rush of spring tax season, fall offers the space to be proactive instead of reactive. By taking steps now, you can help avoid year-end stress and put yourself in a stronger position for the coming year.
At CKS Summit Group, our mission is to help you move from uncertainty to confidence. By planning ahead, you can help protect more of your wealth, reduce tax surprises, and make your money work harder for you.
Final Thoughts
Fall is a season of change, and the perfect reminder to align your financial strategy with your goals before the year closes out. Don’t wait until December; the earlier you act, the more options you have.
Ready to “fall into financial readiness”? Schedule a complimentary consultation with CKS Summit Group today and take control of your financial future.
FAQs
Q1: Why is fall a good time for financial planning?
Fall gives you time to adjust contributions, charitable giving, and tax strategies before year-end deadlines.
Q2: Should I always max out my retirement contributions?
If possible, yes – especially if your employer offers a match. Even partial increases can help reduce taxes and grow future income.
Q3: What if I don’t have capital gains this year?
Tax-loss harvesting can still help. Losses can offset up to $3,000 of ordinary income and be carried forward for future years.
Q4: How do Roth conversions fit into year-end planning?
They allow you to shift assets from taxable to tax-free accounts at today’s lower rates, potentially saving you significant taxes later.
Q5: How can CKS Summit Group help me prepare?
We take a holistic approach – reviewing taxes, income, and investments together to help you finish the year strong and enter the new year with confidence.
Disclaimer: This content is for informational purposes only and should not be construed as tax, legal, or financial advice. Consult with a qualified advisor before making investment decisions.
