Tax season is the one time each year when every financial decision you’ve made comes into focus. Your CPA is exceptional at filing your return accurately — but their job isn’t always to proactively map your financial future. That’s where a financial planner comes in. This February, go into that tax appointment armed with the right questions.

1.  Ask About IRA Contributions

You have until April 15, 2026 to contribute to a Traditional or Roth IRA for the 2025 tax year. The limit is $7,000 ($8,000 if you’re 50 or older). Ask your CPA: “Can I still make an IRA contribution for last year, and which type makes more sense given my income?” A Traditional IRA may lower your taxable income today; a Roth IRA grows tax-free for the future. Many people miss this simply because no one asked.

2.  Self-Employed? Ask About a SEP-IRA

If you own a business or freelance, a SEP-IRA is one of the most powerful tools available. You can contribute up to 25% of net self-employment income — potentially over $70,000 for 2025 — and deduct every dollar. Ask your CPA: “What’s the maximum I can contribute to a SEP-IRA, and can I still open one before the filing deadline?” The answer is often yes, even with an extension.

3.  Did You Max Out Your HSA?

If you have a high-deductible health plan, a Health Savings Account (HSA) is a triple tax advantage: contributions are deductible, growth is tax-free, and withdrawals for medical expenses are tax-free. 2025 limits are $4,300 for individuals and $8,550 for families. Ask: “Am I eligible for an HSA, and can I still contribute for 2025?” Many people leave this completely on the table.

4.  Are You Itemizing — or Should You Be?

Most people take the standard deduction without a second thought. But if you gave to charity, paid significant mortgage interest, or had large medical bills, itemizing could save you more. Ask: “Does itemizing make sense for me, and did I capture all eligible charitable donations, including non-cash gifts?” Donated clothing, furniture, or mileage driven for volunteering all count — if documented.

5.  Small Business Owners: Check These Too

Ask about the Qualified Business Income (QBI) deduction — eligible pass-through business owners can deduct up to 20% of business income. Also ask whether your home office, vehicle use, and business equipment were fully deducted. These are frequently underutilized.

6.  Trump Accounts — What Are They and Should I Open One?

The “Trump Account” under the Tax Cuts and Jobs Act extension discussions, is a new type of tax-advantaged savings account designed primarily for children. The government would seed eligible newborns with an initial deposit, and parents could contribute up to $5,000 per year. Funds grow tax-deferred and can be used for education, a first home, or retirement. Ask your CPA: “Does my child qualify for Trump Accounts?”

7.  Roth vs. Traditional 401(k) — Which Is Right for You Now?

This is one of the most overlooked decisions in retirement planning. Your CPA can see your effective tax rate — what you’re actually paying on your last dollar of income. If your rate is low today (under 22%), a Roth 401(k) often makes more sense: pay taxes now at a lower rate and enjoy tax-free withdrawals later. If you’re in a higher bracket now, a Traditional 401(k) defers the tax hit. Ask your CPA: “What is my effective tax rate, and should I be directing new contributions to Roth or Traditional?”

8.  Are You Missing Tax Credits? Education, Energy & Child

Credits are better than deductions — they reduce your tax bill dollar for dollar. Ask your CPA to specifically review these three areas:

Education Credits: The American Opportunity Credit (up to $2,500) and Lifetime Learning Credit (up to $2,000) apply to tuition paid for yourself, a spouse, or a dependent. Many families miss these entirely.

Energy Credits: Did you install solar panels, a heat pump, an EV charger, or energy-efficient windows in 2025? The Residential Clean Energy Credit and Energy Efficient Home Improvement Credit can be worth thousands — but only if you claim them.

Child & Dependent Credits: The Child Tax Credit (up to $2,000 per qualifying child) and Child and Dependent Care Credit for daycare or after-school costs are frequently underreported. Ask: “Am I capturing every credit available for my children or dependents?”

Your Pre-Appointment Checklist

• Can I still contribute to a Traditional or Roth IRA for 2025?
• What’s the most I can put in a SEP-IRA as a business owner?
• Am I eligible for an HSA, and did I maximize it?
• Should I itemize deductions instead of taking the standard deduction?
• Did I capture all charitable contributions, including non-cash?
• Am I taking the full QBI deduction for my business?
• Does my child qualify for a Trump Account?
• Based on my effective tax rate, should I shift to Roth or Traditional 401(k) contributions?
• Am I missing any education, energy, or child tax credits?
• What can I do differently in 2026 to reduce next year’s bill?

Your CPA and your financial planner should be working as a team. If you don’t yet have a CFP in your corner, tax season is the perfect time to start that conversation.

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