March 31, 2026
By Margaret Allen
PRESENTED BY Crowne Point Tax & Wealth Counsel
THIS WEEK
Major 2026 Tax Law Updates Are Turning Planning Into Savings Opportunities
This tax season, the landscape isn’t just about filing returns — it’s about strategic optimization. Recent rule changes under the One Big Beautiful Bill Act and related guidance have introduced significant shifts to deductions, contributions, and planning levers that savvy taxpayers can use to their advantage — if they know them ahead of time. According to recent analysis, many taxpayers are poised to overpay this year simply because they haven’t adjusted their planning to reflect these updates.
Among the most impactful shifts:
A vastly expanded SALT deduction cap, allowing many filers in higher‑tax states to deduct much more of their state and local taxes than in recent years
New contribution and withholding tactics that could reduce current tax liability while boosting retirement savings
Bonus depreciation and business expensing rules making certain asset purchases more tax-efficient for business owners
These aren’t tweaks — they represent a meaningful opportunity to reshape your tax strategy. Many of the benefits are temporary or phase out at higher income levels, so early planning matters more than ever.
ALSO THIS WEEK
Three Proven Tax Planning Strategies for 2026 That Most Filers Overlook
Knowing that the rules have changed is one thing. Applying strategic moves is another. Recent expert guidance highlights multiple planning tactics that go beyond the basics and can materially affect your tax picture this year:
One core idea is to understand your tax bracket and income timing. This means planning not just what income you earn but when you recognize it — and how deductions or credits interact with that timing. For example, shifting income or deductible expenses into or out of 2026 can influence which marginal brackets you fall into.
Recordkeeping and consistent tracking throughout the year matter more than ever. High‑income earners are advised to use tools that monitor income, eligible taxes, and deductible activity in real time. Accurate financial documentation can be the difference between maximizing valuable deductions and losing them due to errors or omissions.
Finally, leveraging multi‑year planning rather than single‑year reaction can unlock long‑term benefits. Strategies like revisiting estate plans under the current exemption environment or modeling Roth conversions across low‑income years can deliver tax‑efficient results far beyond 2026.
Taken together, these tactics emphasize that tax planning is a year‑round strategy and not a deadline deadline scramble. Turning chronic planning into continuous strategy is what separates saving money from leaving money on the table.
QUICK HIT
How Your 2026 Tax Return Can Power Your Broader Financial Plan
Your return can do more than determine your refund. It can reveal planning insights: whether you should adjust withholding, take advantage of Roth conversion windows, or reallocate savings to retirement accounts or emergency funds — all based on how items like deductions and credits ended up shaping your liability. Read more here.
THE BOTTOM LINE
Three Planning Moves to Make Before Tax Day
First — evaluate how key 2026 changes, such as the SALT deduction cap increase and expanded credits, affect your return. Early planning can help you capture these opportunities rather than miss them.
Second — adopt organized recordkeeping and proactive year‑round strategies like timing income and contributions, retirement planning, and multiyear modeling to increase your savings potential.
Third — use the insights from last year’s return to fine‑tune this year’s approach. Your past filing holds clues about where strategic moves next year will be most impactful.
That's the week. See you next edition.
Margaret Allen
Editor-in-Chief
Smrtt Money
P.S. Tax season doesn't wait — and neither do the rules. The sooner you have a strategy in place, the more you keep. Book your free 30-minute session here.