5 Strategic Tax Planning Opportunities You Can't Afford to Miss

Article | February 19, 2026

Authored by Your Firm LLC

 The One Big Beautiful Bill Act (OBBBA), signed in mid-2025, fundamentally changed the tax planning landscape for 2026 and beyond. While many taxpayers focus on filing deadlines and compliance, the real opportunity lies in strategic planning that can save thousands of dollars in tax liability.

If you haven't revisited your tax strategy since the OBBBA passed, you may be leaving significant money on the table. Here are five high-value opportunities that deserve your attention right now.

1. Take Advantage of the Expanded SALT Deduction

The OBBBA raised the State and Local Tax (SALT) deduction cap from $10,000 to $40,000, opening up substantial new planning opportunities for taxpayers in high-tax states. For business owners, this creates an even more compelling case to evaluate Pass-Through Entity (PTE) elections.

"The increased SALT cap is one of the most immediate benefits of the OBBBA for our clients," explains Jamie Miller, Tax Partner at Your Firm. "We're helping business owners model whether a PTE election makes sense for their S corporation or partnership. In many cases, this strategy allows them to convert individual SALT that would otherwise be capped into a fully deductible entity-level tax."

For individuals who itemize, the higher cap means you may benefit from accelerating deductible SALT payments within the allowed limit. Your tax advisor should model both itemized and standard deduction scenarios, since the post-OBBBA standard deduction is also higher for 2026.

2. Leverage Roth Conversions for Multi-Year Tax Efficiency

If your income will fluctuate over the next few years due to retirement transitions, business sales, or bonus variability, Roth conversions can be a powerful bracket-management tool. By converting traditional retirement accounts to Roth accounts during lower-income years, you reduce future Required Minimum Distribution (RMD) pressure and create tax-free growth potential.

"We're seeing tremendous opportunity for clients who plan ahead with Roth conversions," says Miller. "For pass-through business owners especially, modeling conversions against projected K-1 income and anticipated business changes allows us to take advantage of lower tax brackets strategically. If the markets experience a downturn in 2026, that's actually an ideal time to convert, because your taxable income inclusion will be minimized."

3. Accelerate Depreciation with Cost Segregation Studies

Real estate investors and business owners who purchased property in 2025 have a valuable opportunity: you can complete a cost segregation study in 2026 for property placed in service last year and intentionally accelerate 2025 deductions. This strategy can create or increase a Net Operating Loss (NOL) that carries forward to offset future income.

Cost segregation reclassifies portions of real estate into shorter-lived property categories, dramatically accelerating depreciation. When coordinated with entity-level tax strategy, PTE elections, and bonus depreciation planning, this approach can generate significant current-year tax savings while building future tax assets.

4. Maximize Charitable Giving with the Right Vehicle

For appreciated assets held more than one year, donating securities can remove embedded capital gains while generating a charitable deduction subject to Adjusted Gross Income (AGI) limits. In high-income years, donor-advised funds offer flexibility to take a larger current deduction while distributing to charities over time.

"Charitable planning is often an afterthought, but it shouldn't be," Miller notes. "We coordinate charitable strategies with entity structure and exit planning to maximize both tax efficiency and philanthropic impact. Some gifts are more efficient at the owner level, while others integrate beautifully with business objectives."

5. Manage Capital Gains Strategically Around Brackets and Opportunity Zones

Systematic tax-loss harvesting remains one of the highest ROI moves available, allowing you to offset capital gains and up to $3,000 of ordinary income annually. For larger gains, the enhanced Opportunity Zone 2.0 rules offer compelling deferral options.

Under the new rules, 2026 capital gains reported on a K-1 can be deferred for up to five years if invested into an Opportunity Zone Fund in 2027. This creates planning opportunities for business owners considering exits, recapitalizations, or major distribution years.

Don't Leave Money on the Table

"The clients who benefit most are those who plan throughout the year, not just at year-end," says Miller. "When we track K-1 income variability, wages, distributions, and charitable moves, we can adjust strategy before Q4 and maximize after-tax outcomes."

Many OBBBA provisions include income-based phaseouts and sunset dates, making proactive planning essential. Ready to optimize your 2026 tax strategy? Contact Your Firm today to schedule a comprehensive tax planning consultation with Jamie Miller and our experienced tax team. We serve clients across Virginia, Maryland, Washington D.C., and North Carolina from our 13 office locations.

Our tax services include:

• Strategic tax planning and multi-year projections
• Federal, state, and local tax compliance
• Pass-through entity (PTE) election modeling and implementation
• Estate and gift tax planning
• State and Local Tax (SALT) advisory
• International tax consulting
• Tax credits and incentives (R&D, opportunity zones, and more)
• Entity structure optimization
• IRS and state tax authority representation

Call our office at [phone number] or email us at info@yourfirmllc.com to get started.