Reviewed and updated October 16, 2026
Review how money enters the account
First, confirm which workplace and individual retirement plans you are eligible to use. Second, check the correct tax-year contribution limits and deadlines. Third, compare traditional and Roth treatment using your current tax position and expected future circumstances. A traditional IRA contribution is not automatically deductible.
Fourth, ask whether an employer match or an eligible retirement savings credit affects your decision. Income, plan coverage, filing status and compensation can change the result. Do not use last year’s limits for a new contribution.
Review how money leaves the account
Fifth, plan required minimum distributions using the rules for your birth year and account type. Inherited accounts need their own review. Sixth, evaluate a Roth conversion before completing it: an untaxed amount converted generally increases current taxable income, and other tax benefits or Medicare premiums may be affected.
Seventh, review withholding or estimated payments on distributions. A payment that looks sufficient at the time of withdrawal may be too small when other income is included.
Coordinate the household picture
Eighth, review charitable giving and beneficiary information with the appropriate advisers. A qualified charitable distribution has specific age, account and payment requirements and should not be confused with withdrawing money and donating cash.
Bring account statements, prior basis records such as Forms 8606, employer-plan information and expected income to your tax appointment. Distinguish tax analysis from investment selection. A useful plan accounts for the year’s entire return rather than assuming every contribution or conversion produces the same benefit.
Official sources
This guide provides general information. The rules depend on the tax year, jurisdiction and your circumstances. Ask our team which filing or planning steps apply to you.
