Year-End Tax Planning Checklist

Start with a taxable-income estimate

Year-end planning is easier when you separate AGI-style income from taxable income. If you do not have a draft Form 1040 yet, approximate AGI from wages and other income, then subtract the federal standard deduction for your filing status—or use the AGI helper on the My Taxes home page for tax years 2021–2026.

Remember: bonuses, RSU vesting, side income, and capital gains can push taxable income up quickly in November and December. Model those with the what-if income slider on the results page.

Watch the distance to the next bracket

My Taxes shows how much more taxable income fits in your current federal bracket before the next rate begins. If you are close to a cliff, delaying optional income or accelerating deductible contributions (when allowed) can matter more than a large raise later.

Use the preset +$5,000 / +$10,000 / +$25,000 buttons to simulate a year-end bonus or equity event without re-entering the whole form.

Compare 2025 and 2026 side by side

Inflation adjustments move bracket thresholds each year even when statutory rates look unchanged. On the results page, the 2025 vs 2026 strip estimates federal tax on the same taxable income and filing status so you can see whether next year’s tables alone change the bill.

If you can choose when to recognize income or realize gains across year-end, compare both years before you act—and confirm with a tax professional for timing strategies that involve securities, retirement accounts, or estimated taxes.

Common year-end checklist items

Review retirement contributions you can still make for the tax year, charitable gifts you intend to complete by December 31, and whether bunching itemized deductions beats the standard deduction.

Check withholding or estimated payments if income rose mid-year. State income tax still applies in many places—open the State tab and switch states only as an educational comparison, not as legal advice to relocate.

Confirm credits and deductions that My Taxes does not model (child tax credit, education credits, NIIT, AMT, and most above-the-line adjustments) before you treat any estimate as final.

Try it in the calculator

On the home page, pick 2025 or 2026, enter taxable income (or estimate it from AGI), choose your state and filing status, then open results. Use the planning tools panel for what-if income, next-bracket distance, and the 2025 vs 2026 federal comparison.

Next step

Ready to run the numbers? Open the federal and state tax calculator and enter your tax year, taxable income, state, and filing status.

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