{"id":2608547,"date":"2026-05-30T09:55:59","date_gmt":"2026-05-30T13:55:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/six-tax-tips-you-should-start-thinking-about-now\/"},"modified":"2026-05-30T10:02:10","modified_gmt":"2026-05-30T14:02:10","slug":"six-tax-tips-you-should-start-thinking-about-now","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/six-tax-tips-you-should-start-thinking-about-now\/","title":{"rendered":"Six Tax Tips You Should Start Thinking About Now"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsix-tax-tips-you-should-start-thinking-about-now%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2608547&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Tax planning shouldn\u2019t wait until filing season. The article argues that many taxpayers make costly mistakes by relying on last year\u2019s assumptions, thinking about taxes only in April, <a href=\"https:\/\/amzn.to\/3YuVZYV\" >adn confusing tax refunds<\/a> with effective planning. Because income, laws, markets, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kelly-clarkson-changes-lyrics-in-her-song-piece-by-piece-after-divorce-from-husband\/\" title=\"Kelly Clarkson alters &#039;Piece by Piece&#039; lyrics post-divorce.\">life circumstances change<\/a>, strategies like home office calculations, vehicle expense methods, and choosing between standard vs. itemized deductions should be reassessed every year.<\/p>\n<p>It also highlights significant decisions that affect taxes throughout the year-such as how you handle retirement contributions (Roth vs. traditional), charitable giving (including donating appreciated assets and timing donations to enable itemization), withholding on bonuses, and investments (realizing gains, harvesting losses, and managing holding periods).The piece warns against letting tax benefits drive spending purely for deductions, notes that DIY software isn\u2019t always cheaper when complexity is high, and emphasizes considering the long-term cost of suboptimal choices.<\/p>\n<p>Ultimately, the goal is to maximize after-tax wealth over time by challenging assumptions, focusing on strategy rather than transactions, and integrating taxes into broader financial decisions.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><br \/>\n<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<section> \t\t\t\t<script>console.log(\"ad slot (AC1)\")<\/script><script>console.log(\"ad slot (IC1)\")<\/script><script>console.log(\"ad slot (IC2)\")<\/script><script>console.log(\"ad slot (IC3)\")<\/script><script>console.log(\"ad slot (IC4)\")<\/script><script>console.log(\"ad slot (REP_0)\")<\/script><script>console.log(\"ad slot (REP_1)\")<\/script><script>console.log(\"ad slot (REP_2)\")<\/script><script>console.log(\"ad slot (REP_3)\")<\/script><script>console.log(\"ad slot (REP_4)\")<\/script><script>console.log(\"ad slot (REP_5)\")<\/script><script>console.log(\"ad slot (REP_6)\")<\/script><script>console.log(\"ad slot (REP_7)\")<\/script><\/p>\n<p>Now that tax season is over, you\u2019re probably tempted to not think about taxes again until next year. That could be a costly mistake. Asking the right questions throughout the year could help you financially come next tax season. In the long run, this could have a substantial impact on your wealth.<\/p>\n<p>Here are six common ways taxpayers get off track and the questions they should ask themselves during the tax year.<\/p>\n<p>Don\u2019t assume the answer is the same as last year.<\/p>\n<p>Taxpayers often default to \u201csame as last year\u201d thinking. But tax outcomes depend on variables that shift constantly, like income, markets, tax laws, interest rates, and personal circumstances.<\/p>\n<p>Consider these examples:<\/p>\n<p>1. Home office deduction: The calculation method can vary. One approach is based on square footage, but allocating based on number of rooms might be better. The method chosen last year may not be optimal this year.<\/p>\n<p>2. Vehicle expenses: The choice between standard mileage and actual expenses can change if driving patterns or vehicle costs change.<\/p>\n<p>3. Standard versus itemized deduction: This should be calculated every year. Taxpayers can \u2014 and should \u2014 choose the better option annually. For example, a year with significant charitable giving, mortgage interest, or taxes paid may favor itemizing, while another year may not.<\/p>\n<p>The question to ask is: \u201cGiven my situation this year, what approach produces the best tax outcome for me?\u201d<\/p>\n<p>Don\u2019t think about taxes only in April.<\/p>\n<p>By the time a return is prepared, most tax outcomes are already decided. Tax efficiency is not a once-a-year exercise; it\u2019s an ongoing discipline.<\/p>\n<p>Key areas where year-round planning matters:<\/p>\n<p>4. Retirement contributions \u2013Rothversus traditional: Choosing between a Roth 401(k) and a traditional 401(k) is fundamentally a tax decision: Should you pay taxes now (Roth), or defer taxes (traditional)? The right answer depends on both current and expected future tax rates.<\/p>\n<p>5. Charitable-giving strategy: The tax benefit depends heavily on\u202fhow\u202fyou give. Donating appreciated securities instead of cash can <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mtg-slams-weak-republican-men-during-the-view-appearance\/\" title=\"MTG slams &#039;weak Republican men&#039; during &#039;The View&#039; appearance\">eliminate capital gains tax<\/a>. Bunching contributions into a single year can increase the likelihood of itemizing\u2014at least every other year.<\/p>\n<p>6. Bonus and supplemental income withholding:\u202fBonuses are often withheld at flat rates that may not reflect actual tax liability. This can create either cash flow drag or underpayment risk.<\/p>\n<p>7. Investment decisions: Realizing gains, harvesting losses, and holding periods all affect after-tax returns.<\/p>\n<p>The question to ask is: \u201cWhat decisions throughout the year will improve my after-tax outcome?\u201d<\/p>\n<p>Don\u2019t confuse refunds with good tax planning.<\/p>\n<p>Many taxpayers still equate a tax refund with success. In reality, a refund simply means you paid more than you should have, and that you gave an interest-free loan to the government. That capital could have been invested or deployed elsewhere during the year.<\/p>\n<p>The question to ask is: \u201cAm I aligning my tax payments with my actual liability?\u201d<\/p>\n<p>Efficient cash flow is part of overall good tax planning.<\/p>\n<p>Don\u2019t let the tax tail wag the dog.<\/p>\n<p>Tax considerations should inform decisions, not drive them. A deduction reduces the cost of an expense, but it doesn\u2019t eliminate it. Spending $1,000 to save $300 in taxes still results in a net outflow of $700.<\/p>\n<p>This is particularly relevant for charitable contributions and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/john-kerry-appears-to-be-profiting-from-chinas-ongoing-genocide-via-a-1-million-investment-report\/\" title=\"John Kerry Appears to Be Profiting from China&#039;s &#039;Ongoing Genocide&#039; via a  Million Investment: Report\">investment decisions made<\/a> for tax reasons rather than economic merit.<\/p>\n<p>The question to ask is: \u201cDoes this decision make sense on its own, before considering taxes?\u201d<\/p>\n<p>Don\u2019t assume doing it yourself always saves money.<\/p>\n<p>Tax software has improved accessibility, but it hasn\u2019t replaced expertise.<\/p>\n<p>For taxpayers, complexity often includes:<\/p>\n<p>8. Capital gains and losses coordination<\/p>\n<p>9. Multi-account asset location<\/p>\n<p>10. Timing decisions across tax years<\/p>\n<p>11. Interactions between income, deductions, and credits<\/p>\n<p>Errors or missed opportunities can be subtle but costly over time.<\/p>\n<p>The question to ask is: \u201cWhat is the long-term cost of suboptimal tax decisions?\u201d<\/p>\n<p>Don\u2019t hesitate to ask \u2014 even if the answer is no.<\/p>\n<p>Some of the most valuable tax strategies begin with simple questions, many of which initially seem unlikely.<\/p>\n<p>For example, can I deduct my pet expenses? Usually no. But in specific cases, such as a legitimate service animal, these expenses may qualify as medical deductions.<\/p>\n<p>The key is not whether a question leads to a \u201cyes,\u201d but whether it uncovers possibilities or clarifies boundaries.<\/p>\n<p>The question to ask is: \u201cIs there any situation where this could apply to me?\u201d<\/p>\n<p>The bottom line: Maximize wealth<\/p>\n<p>For taxpayers, tax planning is not about chasing deductions or minimizing a single year\u2019s bill. It\u2019s about maximizing after-tax wealth over time.<\/p>\n<p>The most valuable questions:<\/p>\n<p>12. Challenge assumptions<\/p>\n<p>13. Focus on strategy, not just transactions<\/p>\n<p>14. Integrate taxes into broader financial decisions<\/p>\n<p>A simple shift from \u201cWhat can I write off?\u201d to \u201cHow should I plan?\u201d can materially improve long-term outcomes. And that\u2019s where thoughtful tax planning delivers its greatest value.<\/p>\n<p>_____<\/p>\n<p>This article was provided to The Associated Press by Morningstar.<\/p>\n<p><a href=\"https:\/\/www.morningstar.com\/people\/sheryl-rowling\">Sheryl Rowling<\/a>, CPA, is an editorial director, financial adviser for Morningstar.<\/p>\n<\/p>\n<p style=\"font-style: italic;\">The Western Journal has reviewed this Associated Press story and may have altered it prior to publication to ensure that it meets our editorial standards.<\/p>\n<div style=\"background-color: #f7f7f7; color: #171717; display: flex;font-size: 16px;font-weight: 600;line-height: 1.5;margin: 24px 0;padding: 18px 20px 18px 30px;text-align: left;\">\n<div style=\"align-self: stretch;border-left: 3px solid #171717;flex-shrink: 0;padding-left: 20px;\"><\/div>\n<p><a style=\"text-decoration: none;\" href=\"https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.westernjournal.com\/\">Choose The Western Journal as your preferred source on Google and never miss reporting that defends truth, protects freedom, and advances Western civilization<\/a><\/div>\n<p style=\"border: 1px solid #f5f5f5; padding: 16px;\">Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. <a href=\"https:\/\/www.westernjournal.com\/advertise-us\/?wj_source=article\">Advertise Today<\/a>.<\/p>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> \t\t\t\t\t\t<label>* Name<\/label> \t\t\t\t\t\t<br \/> \t\t\t\t\t\t<input type=\"text\" name=\"name\" required> \t\t\t\t\t<\/div>\n<div class=\"sc--field\"> \t\t\t\t\t\t<label>* <\/label> \t\t\t\t\t\t<br \/> \t\t\t\t\t\t<input type=\"text\" name=\"\" required> \t\t\t\t\t<\/div>\n<p> \t\t\t\t\t<label>* Message<\/label> \t\t\t\t\t<br \/> \t\t\t\t\t<textarea name=\"message\" required><\/textarea> \t\t\t\t\t \t\t\t\t\t<\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> \t\t\t\t\t<input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\"> \t\t\t\t\t \t\t\t\t\t<\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> \t\t<script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey == typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts = { \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs = [ 'name', '', 'message' ];  \t\t\t\t\tfor( var i = 0; i < inputs.length; i++ ) if( ! 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Don\u2019t ignore taxes-ask the right questions year-round to protect your wealth<\/p>\n","protected":false},"author":1,"featured_media":2608548,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2026\/05\/IMG_8767.jpeg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[55508,80504,52817,80502,80503],"class_list":["post-2608547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-financial-advice","tag-irs-guidance","tag-tax-deductions","tag-tax-planning","tag-tax-savings"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2026\/05\/IMG_8767.jpeg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2608547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2608547"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2608547\/revisions"}],"predecessor-version":[{"id":2608551,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2608547\/revisions\/2608551"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2608548"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2608547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2608547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2608547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}