At The Money: Tax Day Special

Tax planning is financial planning, with taxes often being an investor's largest annual expense. Proactive, year-round strategies—especially around tax deferral versus avoidance, capital gains timing, and charitable 'bunching'—can significantly reduce liabilities. Upcoming changes in the 'Big Beautiful Bill' raise SALT deduction limits to $40k (phased out above $500k income) and impose new charitable deduction floors, making 2025 a more favorable year for high earners to act.

Get actionable, high-impact tax moves from a seasoned wealth management tax director—especially valuable for high earners navigating new SALT and charitable deduction changes before 2026 rules take effect.

1. 01Tax deferral (e.g., 401(k)s, opportunity zones) is not tax avoidance—liabilities are delayed, not eliminated, so planning for future tax hits is critical.
2. 02High earners should consider 'bunching' charitable donations and accelerating SALT deductions into 2025 to avoid new 2026 restrictions, including a 0.5% AGI floor on deductibility.
3. 03Equity compensation timing, QBI deductions for small businesses, and 'mega backdoor Roth' 401(k) strategies are underutilized levers that can optimize after-tax wealth.