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David P. McCabe,
WMCP®, ChFC®, CLU®
Financial Planner
Nathaniel D. High,
CFP®, RICP®
Financial Planner
nathaniel@centuriafinancial.com
Nicholas J. Over, CFP®
Financial Planner
nicholas@centuriafinancial.com
Sara E. Martin
Operations Manager
Molly R. Kelsh
Client Service Specialist
Centuria Financial Group
2333 Baltimore Blvd Suite B
Finksburg, MD 21048
Phone: 443-952-7232
November/December 2026
Year-End Tax Wins
As the year draws to a close, it's a smart time to maximize your current-year tax deductions and explore other tax planning opportunities. Here's a practical checklist of actions that can help reduce your 2026 tax bill.
Pre-pay Business Expenses
Consider prepaying certain deductible expenses before December 31st. You can often deduct advance payments for subscriptions, advertising, business insurance premiums, rent, licenses, and similar items that don't extend beyond 12 months.Maintenance and Repairs
Complete repairs on equipment, vehicles, and physical plant items by year-end to claim the deductions in the current tax year.Invest in Equipment
Purchase and place qualified business equipment into service before year-end. For tax year 2026, businesses can deduct the full cost of eligible equipment up to a generous $2,560,000 limit under Section 179. This powerful provision allows immediate expensing rather than spreading depreciation over multiple years.Maximize Qualified Business Income (QBI) Deductions
Eligible owners of pass-through businesses — such as S corporations, partnerships, and sole proprietorships — may qualify for up to a 20% deduction on qualified business income. For 2026, a new minimum deduction of $400 (indexed for inflation) applies to noncorporate taxpayers whose aggregate QBI from activities in which they materially participate exceeds $1,000.Contribute to Retirement Accounts
Maximize employer matching contributions to employees' 401(k) plans. These contributions are generally deductible for the business.Fund Health Savings Accounts (HSAs)
Employer contributions to employee HSAs — including your own if eligible — are tax-deductible for the business.Capture Losses and Charitable Gifts
Review your financials carefully to identify all available deductions and losses. Additionally, donating equipment, computers, or inventory to charity can generate valuable year-end tax benefits.Final Tip
Tax planning works best when done proactively. Schedule a meeting with your tax professional well before December 31st to review your specific situation and implement strategies tailored to your business. Acting early can help you avoid last-minute stress and capture every available opportunity to lower your tax exposure.1164455
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David P. McCabe, Nathaniel D. High, and Nicholas J. Over are Financial Planners with, and offer securities and investment advisory service through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with Centuria Financial Group.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
Centuria Financial Group and LTM Marketing Solutions, LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Marketing Solutions, LLC, an unrelated third party. Articles are not written or produced by the named representative.
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