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Now that tax season is over, it’s a great opportunity to reflect on your current situation and plan ahead. During your review, you might just find ways to make future tax filing even easier.

In this episode of Money Wisdom, Nicholas J. Colantuono, CFP® shares simple, proactive steps you can take today to avoid stress, surprises, and missed opportunities next year.

1. Maximize Your Contributions

Your retirement account contributions should not only be consistent but also strategically placed. Saving in the right accounts can potentially reduce your taxable income both today and over your lifetime.

Traditional tax-deferred retirement accounts, like 401(k)s, offer tax deductions when you contribute pre-tax money. For 2026, individuals under 50 can contribute up to $24,500 annually, with catch-up contributions starting at age 50. These limits usually adjust based on cost-of-living data, so stay informed and review your strategy often.

Also, it’s important to understand when to prioritize tax-deferred contributions over Roth contributions. If you’re currently in a high tax bracket, it may be more beneficial to take the deduction now rather than pay taxes upfront.

2. Adjust Your Withholding

Many people either receive a large refund or owe significantly at tax time. While a refund might feel like a bonus, it simply means you’ve overpaid throughout the year. You could have used that money more effectively if it had stayed in your paycheck.

On the flip side, under-withholding can lead to a stressful tax bill in April. Ideally, you should adjust your withholdings so that you neither owe a large sum nor receive a large refund. This requires ongoing attention and, often, guidance from a financial professional.

3. Create a Secure Tracking System

Keeping track of income, expenses, contributions, donations, and tax payments in one secure place can help you stay organized. Not only does this streamline the tax filing process, but it also reduces the risk of missing important information.

Given the prevalence of cybercrime, it’s critical to store and share your data securely. Creating a well-structured system will save time, reduce stress, and allow financial professionals to assist you more effectively.

4. Seek Professional Guidance

Tax laws, contribution limits, and financial planning strategies are constantly evolving. While general advice can be helpful, your financial situation is unique and requires a tailored plan. Working with an advisor who understands your needs and goals can help you make more informed financial decisions over the long term.

Want clarity about your tax situation? Get your free Taxes Simplified guide by texting “OFFER” to 800-757-0436.