Your Tax Return Is a Planning Tool: What Your 1040 Can Tell You

Most people think of their tax return as something to file and forget. But for high-income households, your return is one of the best planning documents you have. It shows how your income flows, where taxes are being triggered, and what opportunities may be available going forward.  

What we look at (and why)

• Income sources (W-2, K-1, 1099, rental, RSUs/stock options) that may require withholding changes
• Capital gains activity and “tax drag” inside taxable accounts
• Charitable deductions and whether giving could be done more tax-efficiently
• Phaseouts that may limit deductions/credits at higher income levels
• Exposure to NIIT/AMT/surtaxes where applicable
• Underpayment penalties and whether cash flow timing needs improvement  

Why this matters A tax plan built in December often comes with limited options. A tax plan built in Q1 gives you time—and flexibility—to coordinate investing, charitable giving, retirement contributions, and withholding. 

 A helpful next step 

If you’d like, we can review last year’s return and coordinate with your CPA to build a proactive 2026 strategy.

^{Disclosure: This material is for informational purposes only and should not be considered tax advice. Consult your CPA for guidance specific to your situation.}