Key Takeaways
- You can still make charitable gifts that count for this tax year, including donor-advised funds and stock donations.
- Depending on your income level, it may make sense to itemize deductions and repay a fourth-quarter state estimated tax payment before year-end.
- You still have time to review capital gains and harvest losses, if appropriate.
- Required Minimum Distributions (RMDs) must be completed before December 31 to avoid penalties.
- Any unused FSA funds may disappear if you don’t act now.
I get it – at this point, most people are mentally done with 2025.
But even with just a few days left in the year, smart tax moves are still possible.
And making a few thoughtful decisions now really can significantly reduce your chances of unpleasant tax season surprises.
Let’s talk about the best year-end tax moves that are still very doable right now.
Is it too late to make charitable giving work in my favor this year?
Not at all. Charitable giving is actually one of the best year-end tax moves still available because of its flexibility.
What matters most right now is timing. Some charitable deduction rules change in 2026 under the OBBBA — including new limits for itemizers and an expanded above-the-line deduction for certain non-itemizers — so timing can matter.
Options that are still very doable include:
- Cash donations made directly to your favorite New Castle County charity
- Funding a donor-advised fund (DAF)
- “Bunching” multiple years of planned giving into one
- Donating appreciated publicly traded stock
Now, a practical note: Cash, credit card, and online donations are usually fine right up until December 31.
Stock gifts, however, take longer because the shares must fully transfer out of your name before year-end. Stock gifts can take longer, and whether they count for 2025 depends on how the shares are delivered/transferred. So start early and confirm processing timelines with your broker/DAF.
At this point, only attempt stock gifts if your stock and DAF are at the same firm. For example: Your stock is at Fidelity, and you are donating to a Fidelity Charitable DAF. Internal transfers are often completed in 1–3 business days.
Should I be rethinking whether I itemize because of the expanded SALT deduction?
Possibly. For years, the $10,000 cap on state and local tax deductions made itemizing feel pointless for many households. But because of the OBBBA, that cap has been expanded to $40,000 in 2025 for joint filers (indexed, e.g., $40,400 for 2026) with special rules/phaseouts at higher incomes; married filing separately is generally half.
Meaning, itemizing may once again be worth considering, even if you’ve taken the standard deduction for several years.
Depending on your income level, it may make sense to re-run the numbers on itemized deductions versus the standard deduction and repay a fourth-quarter state estimated tax payment before year-end. (This strategy generally only makes sense if you itemize deductions and are not already fully limited by the SALT deduction cap.)
To count for 2025, the state estimated tax payment generally must be paid by December 31, 2025. Most states allow easy online payments, which makes this one of the simpler year-end moves if the math supports it.
Is there still time to do anything meaningful with capital gains or losses?
Yes, but the window is closing quickly. Before the year ends, it’s worth stepping back and looking at your investment picture as a whole:
Did you realize capital gains earlier this year?
Are there unrealized losses that could help offset those gains?
Would selling now still make sense for your long-term investment strategy?
Tax-loss harvesting can be helpful, but it needs to be done carefully. One late-December decision that could have adverse effects is selling a “loser” to get the tax break, but then buying it right back because you still like the investment.
Also, remember: The Market has early holiday hours and weekends, so you should aim to execute all “sell” orders no later than December 29th. For tax purposes, what matters is the trade date (not the settlement date); the earlier timing is simply to reduce last-minute execution or processing risk.
Waiting until the 31st is technically possible for most stocks, but it leaves zero room for system errors or liquidity issues.
And at this late date, it will be a good idea to steer clear of trying to harvest losses in physical assets, short sales, and mutual funds.
What happens if I forget to take my Required Minimum Distribution?
If you’re age 73 or older, this is an area where there’s no wiggle room. Required Minimum Distributions must be taken by December 31, and missing the deadline can result in significant penalties.
However, if this is your first RMD year, you may be able to delay that first withdrawal until April 1 of the next year (which can mean taking two RMDs in one tax year).
One important reminder: Even though the IRS deadline is December 31, many custodians impose earlier internal cutoffs to process distributions. So waiting until the last few days of the year can sometimes backfire.
If your RMD hasn’t been completed yet, this should move to the top of your list.
Will I lose unused FSA money if I don’t act now?
There is a possibility. Most Flexible Spending Accounts operate under a use-it-or-lose-it rule, meaning unused funds expire at the end of the year unless your employer offers a carryover or grace period.
Now is the time to 1) check your remaining balance, 2) confirm your plan’s specific rules, and 3) incur eligible expenses before year-end (medical, dental, vision, prescriptions, etc.)
This is less of a tax strategy and more of a tax cleanup. You already set this money aside pre-tax. The goal now is simply not to leave it behind.
Final thoughts
I recognize that not every move above will apply to you. So if you’d like to squeeze in a quick chat to narrow down which are the best year-end tax moves to focus your limited time on, grab a slot on my calendar.
A short conversation now can really put you in a different situation come tax season.
(Disclaimer: As with any financial guidance, remember to consult a qualified financial planning professional about any investment or financial strategies you make. As your Delaware tax professional, I can only give clarity on how certain moves will affect your tax situation. But none of this guidance is intended to be a one-size-fits-all approach. Getting insight from qualified professionals as to your specific situation is essential.)