September Tax Tips: How to Prepare for Year-End and Save Money

Stay ahead of tax season with September tax tips. Learn how to reduce liabilities, maximize deductions, and plan for year-end with Collins & Collins Tax Advisors.

Why September is the Best Time for Tax Planning

September is more than back-to-school—it’s the perfect checkpoint for your finances. With only a few months left before year-end, the moves you make now can **lower your tax bill, maximize deductions, and protect your wealth**. At Collins & Collins Tax Advisors, we believe proactive tax planning means peace of mind and more money in your pocket.

1. Review Your Year-to-Date Income and Withholding

By September, you should have a clear sense of your income trajectory. Compare your W-2 withholdings and estimated tax payments against your expected earnings. Adjusting now prevents underpayment penalties and ensures you aren’t overpaying the IRS.

2. Maximize Retirement Contributions

Retirement savings are not only a smart financial move—they’re also a tax deduction. September is the time to check if you’re on track to max out your:

401(k)

IRA or Roth IRA

SEP or Solo 401(k) (for business owners)

Setting up a retirement plan this fall locks in tax-advantaged growth and lowers taxable income.

3. Prepare for Open Enrollment and Tax-Advantaged Accounts

Open enrollment season begins soon. Evaluate Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), both reduce taxable income while covering healthcare costs. HSAs even grow tax-free.

4. Organize Records for Smooth Filing Season

Don’t wait until January. Start collecting receipts, mileage logs, charitable donation letters, and business expense reports now. Creating a simple digital or paper system today means less stress (and fewer missed deductions) when tax season arrives.

5. Explore Year-End Tax Planning Opportunities

Life events—marriage, divorce, home purchase, or starting a business—can drastically change your tax picture. Inflation adjustments and tax law changes for 2025 may also impact deductions and credits. Working with a trusted tax advisor now helps you:

• Minimize taxable income

• Plan for capital gains or losses

• Preserve wealth for your family and future

Take Action Today

At Collins & Collins Tax Advisors, we help clients in every stage of life make strategic moves before year-end. Whether you’re an individual, business owner, or high-net-worth client, the right September tax planning can mean thousands saved in April.

Schedule your consultation today

www.collinstaxadvisors.com to create your fall tax strategy.