Year-End Tax Planning Checklist for High Earners
| Action | Deadline | Who Benefits Most |
|---|---|---|
| Max 401(k) contributions | Dec 31 | W-2 earners with capacity |
| Roth conversion (low bracket year) | Dec 31 | Income temporarily low or in Roth window |
| Tax-loss harvesting | Dec 31 | Taxable investors with unrealized losses |
| Charitable contributions / DAF | Dec 31 | High-income years; itemizers |
| HSA contribution (if HDHP) | Tax filing deadline | Anyone on qualifying high-deductible plan |
| IRA contribution | Tax filing deadline (Apr) | Earners within income limits |
A year-end checklist covering deductions, gain/loss management, retirement contributions, and charitable planning opportunities.
What to review first
- Your current goals, time horizon, and coverage or savings baseline.
- Known risks that could interrupt income, liquidity, or long-term planning.
- Tradeoffs between flexibility, cost, and long-term predictability.
Planning framework
- Define objective: Clarify the outcome this decision is meant to support.
- Model scenarios: Compare a conservative, baseline, and stress-case path.
- Prioritize protection gaps: Address highest-impact risks first.
- Coordinate with tax and legal context: Confirm assumptions before implementation.
- Set review cadence: Revisit annually and after major life or business changes.
Questions to ask in a strategy review
- What is the downside if this plan underperforms?
- Which assumptions matter most and how often should they be tested?
- What changes would trigger an immediate plan update?
Bottom line
A clear process and periodic review usually matter more than chasing one “perfect” tactic. Build a plan you can monitor and adjust over time.
General educational information only and not individualized legal, tax, or investment advice. Product features, availability, and costs vary by carrier and underwriting.
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