Two Tax Moves You Can Still Make

If you're in the middle of filing your 2025 tax return, or you haven't started yet, there's something you need to know before you submit anything: you might still have moves left to make.

Most people assume that once the calendar flips to a new year, the book is closed on the prior year's taxes. And for the most part, that's true. The vast majority of tax-saving strategies need to happen before December 31st. That's why we always tell our clients that real tax planning is a year-round process, not a filing-season scramble.

But there are two exceptions — two contributions you can make right now, in 2026, that still count for your 2025 tax return. And if you haven't taken advantage of them yet, you have until April 15th.

Move #1: IRA Contributions

An Individual Retirement Account is one of the few tax-advantaged vehicles that lets you contribute in the current year for the prior year's return. That means you can make a 2025 IRA contribution anytime between now and April 15, 2026 — and deduct it on the return you're about to file.

The contribution limits for 2025 are straightforward. If you're under 50, the maximum is $7,000. If you're 50 or older, you can contribute up to $8,000 thanks to the catch-up provision.

Now, a few important things to understand about IRA deductibility. If you or your spouse are covered by an employer retirement plan, your ability to deduct Traditional IRA contributions may phase out at higher income levels. That doesn't mean you can't contribute — it means the tax benefit may be reduced or eliminated depending on your modified adjusted gross income. If you're self-employed and don't have a retirement plan set up through your business, the Traditional IRA deduction is generally available to you.

This is also a good time to consider whether a Traditional or Roth IRA makes more sense for your situation. Traditional IRA contributions reduce your taxable income now. Roth contributions don't give you an upfront deduction, but your withdrawals in retirement are tax-free. Which one is better depends on where you think your tax rate is headed — and that's a conversation worth having with your CPA before April 15th, not after.

The key point: if you haven't maxed out your IRA for 2025, you still have time. And $7,000 or $8,000 in deductions isn't nothing — especially when it's this easy to capture.

Move #2: HSA Contributions

The second move is a Health Savings Account contribution. Like the IRA, you can contribute to an HSA for the prior year up until the April 15th tax deadline.

But here's the catch: HSA contributions are only available if you're enrolled in a high-deductible health insurance plan that's HSA-compliant. Not every health plan qualifies, so before you make a contribution, check with your insurance provider to confirm your plan meets the requirements.

If your plan does qualify, the 2025 contribution limits are approximately $4,300 for individual coverage and around $8,550 for family coverage (with an additional $1,000 catch-up if you're 55 or older). These are powerful numbers, because HSA contributions offer what's sometimes called the "triple tax advantage": contributions are tax-deductible, the money grows tax-free, and withdrawals for qualified medical expenses are also tax-free. It's one of the most tax-efficient accounts available, and it's frequently underutilized.

For small business owners especially, the HSA can serve as both a medical expense fund and a long-term savings vehicle. Many people don't realize that once you turn 65, you can withdraw HSA funds for any purpose without penalty — you'll pay income tax on non-medical withdrawals, but it essentially functions like a Traditional IRA at that point. Maximizing your HSA contributions while you're eligible is one of the simplest, most impactful financial moves you can make.

Why These Are the Exception, Not the Rule

We want to be clear about something: these two moves are the exception, not the rule.

The fact that you can make IRA and HSA contributions for 2025 in early 2026 is a narrow window — and it's one of the only opportunities to affect your prior-year tax return after the year has closed. It's a nice option to have, but it shouldn't be confused with tax planning.

Real tax planning — the kind that saved our clients $35,000 and $40,000 in a single year — happens before December 31st. It's the strategic work of optimizing your salary for QBI, structuring retirement contributions, evaluating pass-through entity elections, and making proactive decisions based on clean, accurate financial data.

If you're reading this article and your first thought is "I wish I had more options right now," that's a signal. It means you're experiencing the limitation of reactive tax preparation rather than the power of proactive tax planning. [Understanding that difference](link to Tax Planning vs Tax Prep blog) is the first step toward changing it.

Louisiana Taxpayers: What Else Changed on Your 2025 Return

While you're reviewing your 2025 return, it's worth understanding what else is different this year. Louisiana enacted its most significant tax overhaul in decades, and many of the changes are already affecting the return you're filing right now.

The individual income tax rate is now a flat 3%, replacing the old graduated brackets that ranged from 1.85% to 4.25%. The standard deduction has tripled — from $4,500 to $12,500 for single filers and from $9,000 to $25,000 for married filing jointly. The corporate income tax rate is now a flat 5.5% with a new $20,000 corporate standard deduction. And Louisiana now allows state-level bonus depreciation, which is significant for any business owner who purchased equipment or vehicles in 2025.

These aren't small tweaks. They fundamentally change the math on your 2025 return. And they create planning opportunities for 2026 — including the full repeal of the corporate franchise tax and new S-Corp pass-through entity treatment — that are worth discussing with your CPA now, not next February.

Don't Miss the April 15th Window

If you haven't made your 2025 IRA or HSA contributions yet, the clock is ticking. April 15th is a hard deadline, and there are no extensions for contributions the way there are for filing.

Here's a simple action plan:

Check whether you're eligible for a deductible IRA contribution based on your income and retirement plan coverage. Confirm whether your health insurance plan is HSA-compliant. If both check out, make your contributions before the deadline and make sure your tax preparer knows about them before your return is filed.

And then — once this year's return is behind you — consider what it would look like to have these conversations in October instead of March. Consider what it would mean to have a CPA who's looking through the windshield, not the rear-view mirror. Consider what a full year of proactive tax planning, built on a foundation of clean, accurate, timely bookkeeping, could mean for your bottom line.

Two moves for 2025. A whole strategy for 2026.

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