Avoid These Nine Tax Mistakes—And Keep More Money

Tax season is here, and as a fiduciary financial advisor, I see people fall into the same costly traps year after year. A recent Forbes article lays out nine of the most common mistakes—several of which I see firsthand in financial planning meetings every spring.

Some missteps are all about timing—like waiting until the tax-filing deadline to fund your IRA, which can mean missed compounding growth over the years. Others are purely missed opportunities, such as forgetting to use a Roth IRA, FSA, HSA, or a 529 plan to maximize your tax advantages. One classic strategy I always highlight with clients is the Qualified Charitable Distribution (QCD): If you’re age 70½ or older and want to donate your Required Minimum Distribution (RMD) directly to charity, you can prevent that withdrawal from increasing your adjusted gross income. As I shared in the Forbes piece, it’s a move that requires advance planning—but evaluating it early can mean real tax savings while supporting causes you care about.

Other mistakes? Not reporting payroll-deducted charitable donations, failing to double-check your return with your preparer, and not reviewing whether you maximized all possible education and medical account deductions. Even accidental omissions—say, forgetting about contributions to tax-advantaged accounts earlier in the year—can cost you big.

Bottom line: Proactive tax strategies are a key part of any comprehensive wealth management or retirement planning process. A certified financial planner helps you take advantage of every option, catch what others might miss, and tailor charitable giving or investment moves to your real-life goals. If you’re looking for independent financial advice or want to be sure your tax plan is optimized, let’s talk—avoiding these nine common mistakes can mean more dollars in your pocket, and a lot less stress in April.

🟢https://www.forbes.com/sites/kateashford/2017/01/31/tax/#4dfb377f2263