If you’re staring at your tax return right now and wondering whether there’s still anything you can do to save money before you file, the answer is yes. This is that special time of year where you may still be able to grab a few deductions, make a few smart moves, and stop yourself from overpaying the IRS for no good reason. I’m not saying we can pull a rabbit out of a hat and magically fix everything you should’ve done last year, but there are still some very real opportunities on the table if you slow down and look.
1. Traditional IRA
If you want a tax deduction based on your income, this is one of the first places to look. You can still make a traditional IRA contribution for last year up until the tax return deadline. That means if you did not put money into an IRA for 2025, you may still be able to get that deduction on your 2025 return right now.
This is one of the easiest last-minute strategies out there. Run the numbers. For some people, this is exactly the kind of move that lowers taxable income without making life complicated.
2. Roth IRA
If you’re thinking long-term, not just chasing a deduction today, the Roth IRA is still one of my favorite moves. You can still make your prior-year Roth contribution by the filing deadline, and because we’re already in the new tax year, you may be able to turn right around and make your current-year contribution too.
That’s where the double dip starts to get fun. You check off last year and this year at the same time. That’s a powerful move if you’re trying to build wealth instead of just surviving tax season.
3. Solo 401(k)
If you’re self-employed and don’t have employees, the solo 401(k) is one of the best tools in the tax code. And this is where a lot of business owners miss out, because they assume they had to do everything by December 31. Not necessarily.
If you’re an S corp owner, the employee contribution had to be set up during the tax year, but the employer contribution may still be available. That means you can still take another bite at the apple and make a meaningful contribution for 2025, especially if you extend. This is one of those strategies that can create a serious deduction without having to invent anything cute or aggressive.
4. HSA
The HSA is one of the best accounts in America, period. If you had a high-deductible health plan last year, you may still be able to make a contribution for 2025 up until April 15. That’s a deduction right on the front page of your tax return.
You put the money in, you take the deduction, and then you can reimburse yourself for qualified medical expenses. Better yet, don’t rush to spend it. Let it grow. Let it invest. Let that account do what it’s supposed to do, which is build tax-advantaged wealth over time.
5. Double Down
A lot of people think that if they already have a 401(k) at work, they’re done. Not true. If you’ve got a day job and a side hustle, you may be able to stack strategies.
If you have a workplace 401(k) and you drive Uber on the side, consult, sell online, or have any kind of separate self-employment income, you may still be able to use a solo 401(k) for that business income. And you may still be able to pair that with an IRA or HSA too. The point is simple. Don’t assume one account shuts down every other option. You are absolutely not screwed. There are lots of options.
6. File an Extension
Extending is not a big deal. In fact, extending is cool. That’s what all the cool kids do.
If you’re not ready to file, stop acting like April 15 is the end of the world. Filing an extension gives you time to dig up more write-offs, clean up your books, and avoid filing a rushed return that leaves money on the table. I’ve said it before and I’ll say it again. Tax season goes to October if you do it right. If you’ve got K-1s coming, messy books, or unanswered questions, you freaking have to extend.
7. Overtime and Tips
This is one people may miss because it’s new. If you had qualifying overtime or tip income, there may be a deduction available there, and for some people that’s a big deal.
This can matter for tipped employees and even certain self-employed workers with tipped income. Think hairstylists, nail techs, Uber drivers, musicians, and others who finally have a reason to properly report what they made. And that matters, because one of the biggest complaints I hear from self-employed people is they can’t qualify for a mortgage. Well, now maybe you can report the income, not pay tax on it, and finally have a return that actually helps you build a life.
8. Home Office
The home office deduction is alive and well, and too many people still let bad advice scare them away from it. If your accountant told you it’s high risk or that you’ll get audited, that’s lazy advice.
This is low-hanging fruit. If you’ve got a side hustle, a 1099, or a small business, I have to assume you’re using some part of your house for it, even if it’s just a small dedicated area. And if that space is legitimate, grab the deduction. It may be simple, but simple still counts.
And here’s the sister strategy that matters just as much. Once you have a home office, when you leave that home office to go do business, that trip may no longer be commuting. That matters for mileage. That’s where this gets really powerful.
9. Mileage
Mileage gets missed all the time because it doesn’t show up in your books automatically. It’s not sitting there in QuickBooks waving at you. You have to go get it.
If you drove to the airport, met with clients, went to job sites, saw vendors, picked up supplies, or recruited employees, those miles may count. No, I do not think you should just make up a percentage and hope for the best. Be accurate, not round. Use your calendar. Use Google Maps. Use your oil changes and service records. Reconstruct it if you need to. You do not need a perfect logbook to know this deduction exists, but you do need something reasonable and defensible.
10. Travel
Travel is another one that gets overlooked constantly. Flights, hotels, Uber, Airbnb, taxis, valet, parking, all of it. If you traveled for a bona fide business purpose, you need to go back and look at it.
Maybe you went to a conference. Maybe you met a customer, toured a facility, visited a vendor, or held a real board meeting. If the meeting was real and the purpose was legitimate, stop ignoring it. Travel is often one of the easiest categories to underreport because people rush their return and never go back through the statements carefully.
11. KKOS Comprehensive Tax Consult and Tax Advisor Network
If you’re trying to figure all of this out in April, let me be blunt. You’re already behind. This is why I’m constantly telling people that real tax planning happens before year-end, not during filing season.
If you need high-level strategy or you’re dealing with more complex issues, this is where my team at KKOS Lawyers comes in. They handle comprehensive tax consultations every week and help business owners actually map out a plan, not just react to what already happened.
If you’re looking for a CPA or advisor who actually understands these strategies and will bring you ideas throughout the year, the Main Street Certified Tax Advisor Network is where you can start. These are professionals trained in the same framework I teach, so you’re not stuck with someone who just plugs numbers into software and calls it a day.
If your current advisor isn’t talking to you about strategies like this, you don’t have a strategy problem. You have an advisor problem.
12. Equipment and Bonus Depreciation
Go back and look at every piece of equipment you bought for your business. Laptop, camera, phone, tools, software setup, anything. If you bought it to make money, it belongs in your books.
Here’s where people mess this up. They think if it didn’t run through the business bank account, it’s not deductible. That’s flat wrong. If you paid for it personally and it’s used in the business, you can still move it onto the books and take the deduction.
Now let’s talk about why this matters. Bonus depreciation allows you to write off a large portion, sometimes all, of that equipment in the year it was placed in service instead of depreciating it over several years. That can create a significant immediate deduction and lower your taxable income right now.
And this is where you need to think strategically. Don’t just chase the write-off. Make sure the purchase makes sense for the business first. But if you already made the investment and it’s sitting there being used, don’t leave the deduction behind because you didn’t track it properly.
13. Pay an Estimate with the Extension
If you’re filing an extension, you still need to send in a payment. The extension gives you more time to file, not more time to pay.
Here’s the simple way to handle it without overcomplicating things. Look at your net income for the year and assume roughly 25% of that is going to taxes. That’s your baseline. It’s not perfect, but it’s a solid, practical estimate that gets you in the right range.
If your income was similar to last year, you can also use last year’s tax bill as a checkpoint. But if your income changed, up or down, that 25% rule helps you quickly adjust and stay close. The goal isn’t precision. The goal is to be reasonable and avoid unnecessary penalties and interest. What you don’t want to do is file an extension and send nothing. That’s where people get into trouble. Send in a good-faith estimate now, clean it up when you file, and move on.
14. Coverdell
This one can be a really smart move if you’ve got kids or grandkids and you’re thinking ahead.
A Coverdell ESA lets you put money aside for education and have it grow tax-free, as long as it’s used for qualified education expenses. And we’re not just talking college. This can include private school, tutoring, books, and other education-related costs along the way. You can still make a contribution for last year up until April 15, and then turn right around and fund the current year too. That’s two years of contributions in a short window.
It’s not going to give you a huge tax deduction today. That’s not the play. The play is long-term, tax-free growth for something you already know you’re going to spend money on. If you’re already paying for education out of pocket, this is one of the easiest ways to start doing it more efficiently.
15. State Tax
Do not forget your state. Seriously.
Everyone gets so focused on the IRS that they completely overlook what their state requires, and that’s where problems come from. If you’re filing a federal extension and sending in a payment, you need to check what your state expects too. In a lot of cases, you’ll need to file a separate extension and send a separate payment. Some states are more aggressive than the IRS when it comes to penalties and enforcement. They don’t mess around, and they don’t wait long.
So don’t assume that because you handled your federal extension, everything else is covered. It’s not automatic. Take a few extra minutes, look up your state requirements, and make sure you’re buttoned up on both sides. That small step can save you a headache you don’t need later.
The Bottom Line
The best tax savings don’t come from one magic move. They come from stacking 15 or 20 smart decisions together. A retirement contribution here. A mileage deduction there. A home office your accountant talked you out of. Travel you forgot to review. Equipment you bought personally and never booked. An extension that gives you time to stop filing like you’re in a panic.
That’s how real tax strategy works. And the bigger truth is this: tax savings is a long-term game. If you missed some things last year, fine. Fix what you still can, then get serious about this year right now. You are the captain of your ship. You cannot pay someone enough to care more than you do. If you want help finding the right strategies to keep more money in your pocket and build wealth the smart way, my team at KKOS Lawyers is here to help, and the Main Street Certified Tax Advisor Network is there if you need a better advisor in your corner.
If you slow down, make these moves, and start thinking like a strategist instead of a last-minute filer, you won’t just save on this return, you’ll change how much you keep for years to come.
