Tax Strategies

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF

------------------------------
Jenna Brashear
AAII Community Manager
Chicago, IL
------------------------------

Hands down the extra $12,000 Senior deduction has the most impact on our savings and I'm using it by filling up the LTCG zero bracket with LTCG, that have sky-rocketed since 2022.

I keep organized with spreadsheets, one of which is a tax forecaster for each year that tracks my own general categories such as interest, dividends, ordinary income, RMDs , LTCG, STCG, pension, and SS all in a single row of a spreadsheet which calculates the Total Tax and effective tax. I check this with tax software to confirm its accuracy. I can then see year over year how these items change along with the tax brackets & standard deduction.

------------------------------
DAVE GILMER

Original Message:
Sent: 12-08-2025 16:36
From: Jenna Brashear
Subject: Which 2025–2026 Tax Changes Matter Most to You and How Do You Stay Organized?

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF

------------------------------
Jenna Brashear
AAII Community Manager
Chicago, IL
------------------------------

The additional senior deduction is the one that most affects me.  In the future, I'll look closer at the SALT increase, to consider itemizing.

As far as organization, I keep personal spreadsheets for federal taxes, linked to a years-long cash projection, both historical and prospective.  As the tax spreadsheet is updated, the linked cash projection is also updated.   A paper file holds relevant tax documents until taxes are filed.

The tax spreadsheet for the year is updated frequently throughout the year, which is handy especially as tax laws change.  I keep a close eye on dividends and capital gains and post them as they happen.  You could of course wait for monthly statements.  My strategy of maximizing long-term capital gains at the zero percent rate has paid off handsomely.

The tax spreadsheet includes separate pages for each tax form, a page for Social Security, one for 1099's, etc. with respective limits on MAGI, tax brackets, etc.  With Social Security, Medicare premiums, and now RMD's to monitor, the time spent on upkeep is well worth it.

The cash projection includes notes on strategy; with so many competing interests it can be hard to remember why I did what!

Hands down the extra $12,000 Senior deduction has the most impact on our savings and I'm using it by filling up the LTCG zero bracket with LTCG, that have sky-rocketed since 2022.

I keep organized with spreadsheets, one of which is a tax forecaster for each year that tracks my own general categories such as interest, dividends, ordinary income, RMDs , LTCG, STCG, pension, and SS all in a single row of a spreadsheet which calculates the Total Tax and effective tax. I check this with tax software to confirm its accuracy. I can then see year over year how these items change along with the tax brackets & standard deduction.

------------------------------
DAVE GILMER

Original Message:
Sent: 12-08-2025 16:36
From: Jenna Brashear
Subject: Which 2025–2026 Tax Changes Matter Most to You and How Do You Stay Organized?

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF

------------------------------
Jenna Brashear
AAII Community Manager
Chicago, IL
------------------------------

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF

Original Message:
Sent: 12/8/2025 4:37:00 PM
From: Jenna Brashear
Subject: Which 2025–2026 Tax Changes Matter Most to You and How Do You Stay Organized?

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF

------------------------------
Jenna Brashear
AAII Community Manager
Chicago, IL
------------------------------

Barry, I generally share your jaded view of our friendly government, but I've actually had good experiences with both the federal and state tax authorities. I make it a point of pride not to fudge on my tax returns---not even a little bit! (I won't say I haven't been tempted, but a little cheating is like a little lying. It sets you on a road to a very dark place, and it's difficult to turn around once you've taken the first step.) I not only have accurate spreadsheets to back up everything on my return, but I have scanned receipts to back up each entry on the spreadsheets. 

I've received several "letter audits" over the years from the IRS, but I have always been able to quickly satisfy them by producing whatever records and explanations were required. Earlier this year, I was audited by my state. The auditor I worked with said I set the record for the fastest response she'd ever received. I uploaded the requested documents to the state's website the very night I received their notice. Some were too voluminous for their website, so I printed and mailed them to the DOR the next day.

I hope I don't get a nasty surprise someday, but unless they really decide to make something up to use against me, I think I'll be okay. 🙏

------------------------------
Rob Adams
------------------------------

Original Message:
Sent: 12-09-2025 10:50
From: BARRY JOHNSON
Subject: Which 2025–2026 Tax Changes Matter Most to You and How Do You Stay Organized?

Original Message:
Sent: 12/8/2025 4:37:00 PM
From: Jenna Brashear
Subject: Which 2025–2026 Tax Changes Matter Most to You and How Do You Stay Organized?

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF

------------------------------
Jenna Brashear
AAII Community Manager
Chicago, IL
------------------------------

Barry, I generally share your jaded view of our friendly government, but I've actually had good experiences with both the federal and state tax authorities. I make it a point of pride not to fudge on my tax returns---not even a little bit! (I won't say I haven't been tempted, but a little cheating is like a little lying. It sets you on a road to a very dark place, and it's difficult to turn around once you've taken the first step.) I not only have accurate spreadsheets to back up everything on my return, but I have scanned receipts to back up each entry on the spreadsheets. 

I've received several "letter audits" over the years from the IRS, but I have always been able to quickly satisfy them by producing whatever records and explanations were required. Earlier this year, I was audited by my state. The auditor I worked with said I set the record for the fastest response she'd ever received. I uploaded the requested documents to the state's website the very night I received their notice. Some were too voluminous for their website, so I printed and mailed them to the DOR the next day.

I hope I don't get a nasty surprise someday, but unless they really decide to make something up to use against me, I think I'll be okay. 🙏

------------------------------
Rob Adams

Original Message:
Sent: 12-09-2025 10:50
From: BARRY JOHNSON
Subject: Which 2025–2026 Tax Changes Matter Most to You and How Do You Stay Organized?

Original Message:
Sent: 12/8/2025 4:37:00 PM
From: Jenna Brashear
Subject: Which 2025–2026 Tax Changes Matter Most to You and How Do You Stay Organized?

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF

------------------------------
Jenna Brashear
AAII Community Manager
Chicago, IL
------------------------------

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF

------------------------------
Jenna Brashear
AAII Community Manager
Chicago, IL
------------------------------

With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?

I like to keep things simple. I use an Excel spreadsheet to track my income by category throughout the year. I have another spreadsheet for medical expenses, one for donations, and one for state and local taxes. I also have spreadsheets for each real estate loan. (I'm writing off a camping trailer as a second home, and I have a little HELOC I use to moderate and spread out my remodeling expenses.) I have to use some guesstimating on some items. For example, I never know until the end of the year exactly what percentage of my ETF distributions will be qualified, but the small amount of non-qualified distributions never makes that much of a difference.

I'm constantly recording and analyzing things throughout the year. It's actually fun to me. 😁 I always do my own tax returns as well as those for my family members, so I keep the various thresholds in my head, and I know pretty much where I (and everybody else in the family) stand all the time. 

Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?

I'm not quite 65, so the enhanced deductions for the elderly won't help me yet, and considering the phase-out levels for the $6,000 bonus, it probably never will. But the SALT cap increase will help, since my state and local taxes push me over the previous limit. All the other new stuff in the bill won't make an enormous difference to me and my family.

------------------------------
Rob Adams

Original Message:
Sent: 12-08-2025 16:36
From: Jenna Brashear
Subject: Which 2025–2026 Tax Changes Matter Most to You and How Do You Stay Organized?

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF

------------------------------
Jenna Brashear
AAII Community Manager
Chicago, IL
------------------------------

Ah, pride goeth before a fall. Here I thought I had it all together for the coming tax season, but no! I just got a nice and nasty surprise from TECL. They're going to pay an $8/share distribution next week. That's going to throw a big kink in my planning. I have a daughter who will be launched into kiddie tax territory. It may push me over the next IRMAA cliff.

The best laid plans of mice and men. Oh, well, we'll all recover from it and move on. Thank you, God, for the reminder. ☺️

With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?

I like to keep things simple. I use an Excel spreadsheet to track my income by category throughout the year. I have another spreadsheet for medical expenses, one for donations, and one for state and local taxes. I also have spreadsheets for each real estate loan. (I'm writing off a camping trailer as a second home, and I have a little HELOC I use to moderate and spread out my remodeling expenses.) I have to use some guesstimating on some items. For example, I never know until the end of the year exactly what percentage of my ETF distributions will be qualified, but the small amount of non-qualified distributions never makes that much of a difference.

I'm constantly recording and analyzing things throughout the year. It's actually fun to me. 😁 I always do my own tax returns as well as those for my family members, so I keep the various thresholds in my head, and I know pretty much where I (and everybody else in the family) stand all the time. 

Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?

I'm not quite 65, so the enhanced deductions for the elderly won't help me yet, and considering the phase-out levels for the $6,000 bonus, it probably never will. But the SALT cap increase will help, since my state and local taxes push me over the previous limit. All the other new stuff in the bill won't make an enormous difference to me and my family.

------------------------------
Rob Adams

Original Message:
Sent: 12-08-2025 16:36
From: Jenna Brashear
Subject: Which 2025–2026 Tax Changes Matter Most to You and How Do You Stay Organized?

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF

------------------------------
Jenna Brashear
AAII Community Manager
Chicago, IL
------------------------------

The new AAII 2025–2026 Tax Guide lays out a huge slate of changes: new deductions, shifting MAGI phaseouts, higher retirement contribution limits, expanded senior deductions, SALT cap increases, estate and gift thresholds and dozens of inflation-adjusted rules across investment income, Social Security, Medicare and more.

For many investors, the challenge isn't just knowing the rules-it's keeping track of them.

So I'd love to hear how others approach tax planning now that the landscape is more complicated than ever:

👉 With all the phaseouts, thresholds, MAGI definitions, and new deduction types, how do you stay organized?
Do you rely on a CPA, software like TurboTax, a personal spreadsheet, or some combination?

And on the strategy side:

👉 Which of the new 2025–2026 tax changes do you think will have the biggest impact on your own planning-and why?
Is it the enhanced senior deduction, higher SALT deduction cap, increased IRA/401(k)/HSA limits, QCD threshold changes, or something else entirely?

Curious how other investors are adapting, and if you haven't yet, the full article in AAII's annual Tax Guide is worth a read. It's a comprehensive walk-through of every key number shaping your 2025 and 2026 tax bill.

This article is part of The Individual Investor's Guide to Personal Tax Planning for 2025–2026. See all sections | Download complete PDF