{
  "id": 15975997,
  "title": "Act Now to Lower Your Taxes for 2026",
  "url": "https://urgent.news/2026/10/22/act-now-to-lower-your-taxes-for-2026",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-22T00:03:48.000Z",
  "source": {
    "name": "Motley Fool",
    "slug": "motley-fool",
    "url": "https://www.fool.com/investing/2026/10/21/act-now-to-lower-your-taxes-for-2026/?source=iedfolrf0000001"
  },
  "original_language": "en",
  "account": "In this installment of Motley Fool Hidden Gems Investing, Robert Brokamp and Amanda Kish discuss how to lower your tax bill for 2026. Now three-quarters of the way through the year, it's a good time for fourth-quarter tax planning to ensure you pay the exact amount required without overpaying. To maximize your tax-advantaged retirement contributions this year, compare your contributions to the annual limit - $24,500 for 401(k)s and 403(b)s with a $8,000 catch-up if you're 50 or older, and $7,500 for IRAs with an $8,600 catch-up. If you've been contributing regularly, it's time to run the numbers and boost your contribution for the remaining paychecks of the year. Also, consider making a catch-up lump-sum contribution before December 31 if your employer permits it. For self-employed individuals, SEP IRAs and solo 401(k)s have much higher limits.\n\nReview your taxable accounts for tax loss harvesting opportunities. This involves selling investments that have decreased in value to offset capital gains or up to $3,000 of ordinary income. Remember the wash sale rule, which prohibits repurchasing the same or substantially identical security within 30 days of a loss sale.",
  "summary": "In this installment of the Financial Planning Challenge, the hosts discuss fourth-quarter tax planning to ensure you're paying what you should.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}