By The Galecki Financial Management Team
Tax season has a way of uncovering regrets. Many retirees and families realize too late that they missed a deduction, forgot to fund an account, or overlooked a state tax credit that could have reduced what they owed. These are common oversights and they’re exactly the types of gaps a Fee-Only financial advisor in Fort Wayne can help identify through proactive tax planning.
At Galecki Financial Management, we work with retirees, families, and individuals who want practical tax planning strategies in Fort Wayne, Indiana, especially those looking for ways to reduce taxes before filing. In this article, our Fee-Only advisors outline three specific moves you can still make (or plan for now) to improve your tax picture:
- Finalizing HSA contributions
- Maximizing IRA contributions
- Capturing Indiana’s 529 tax credit
1. Finalizing 2025 HSA Contributions Before Filing
If you were covered by a qualifying high-deductible health plan during 2025, you may still contribute to a health savings account (HSA) until the April 2026 tax filing deadline.
For 2025, contribution limits allow:
- Up to the annual IRS limit for individual coverage ($4,300)
- Up to the larger IRS limit for family coverage ($8,550)
- An additional catch-up contribution if you are age 55 or older ($1,000)
For example, Mark and Susan, (1) both 58 and living in Fort Wayne, carried family HDHP coverage for all of 2025. During the year, payroll deductions totaled $6,000 into their HSA.
After reviewing their benefits summary in early 2026, they realized they had room to contribute more. Before filing their 2025 return, they deposit the remaining eligible amount.
The result:
- Their 2025 taxable income decreases.
- Their federal tax liability drops.
- Their Indiana state income tax decreases.
- Their HSA balance grows for future medical expenses.
This is one example of how timely tax planning can preserve valuable deductions that disappear once deadlines pass.
2. Making 2025 IRA Contributions Before the April 2026 Deadline
IRA contributions for the 2025 tax year can generally be made up until the April 2026 filing deadline. That creates planning flexibility many families overlook.
Depending on income levels, you may qualify for:
- A deductible traditional IRA contribution
- A Roth IRA contribution (subject to income phase-outs)
- A backdoor Roth IRA contribution
For instance, Jessica, (2) age 62, scaled back her consulting work in 2025. Her income came in lower than projected. In February 2026, before filing, she met with her advisor to review her tax projection.
Because her 2025 income fell into a lower bracket, she makes a deductible traditional IRA contribution for 2025 before the deadline.
That contribution:
- Reduces her 2025 adjusted gross income
- Lowers her federal tax bill
- Reduces her Indiana state tax
- Helps limit the portion of her Social Security benefits subject to taxation
For retirees managing required minimum distributions, pension income, and Social Security, IRA decisions affect more than just this year’s taxes. A well-timed contribution can reduce near-term taxes while improving long-term distribution planning.
A Fee-Only financial advisor in Fort Wayne can run projections before filing to determine which IRA strategy may reduce taxes now while supporting long-term retirement income planning.
3. Funding an Indiana 529 Plan to Capture the 2025 State Tax Credit
Indiana offers one of the more attractive state tax credits for 529 contributions. Residents may receive a state income tax credit equal to 20% of contributions, up to the annual maximum credit allowed ($1,500) per return.
Contributions designated for the 2025 tax year can generally be made until the April 2026 filing deadline.
Here’s a practical example. A Fort Wayne couple contributes $7,500 to an Indiana 529 plan in March 2026 and designates the contribution for 2025. This results in the full credit of $1,500.
That single action:
- Generates the maximum available Indiana state tax credit
- Directly reduces their Indiana tax liability dollar-for-dollar
- Continues building tax-advantaged education savings for their granddaughter
Unlike a deduction, which lowers taxable income, a credit reduces taxes owed. For Indiana residents, this can produce a measurable reduction in their state tax bill. Incorporating Indiana-specific tax planning strategies like 529 contributions can meaningfully lower what you owe while supporting long-term family goals.
Plan a Strategic Tax Review With Fee-Only Advisors in Fort Wayne, Indiana
Before you finalize your 2025 return, a structured review with a Fee-Only advisor can uncover opportunities that still remain open. Many families are surprised by how many options still exist to reduce taxes before filing when they work with an experienced advisor.
At Galecki Financial Management, our Fee-Only financial advisors in Fort Wayne specialize in tax planning for Fort Wayne, Indiana, residents, helping retirees, families, and individuals evaluate income, contribution limits, and Indiana-specific credits before filing.
Do you want a second look at your 2025 tax picture before filing in 2026? We’re here to help you take practical steps that reduce unnecessary tax exposure.
To schedule a meeting, call (260) 436-8525 or email [email protected].
Frequently Asked Questions
What tax moves can I still make before filing my tax return?
You may still be able to contribute to tax-advantaged accounts like an IRA, HSA, or 529 plan before the filing deadline and apply those contributions to the prior tax year. These moves can reduce taxable income or generate credits. Fee-Only advisors often review contribution limits and income thresholds before filing to identify opportunities that remain open.
How can Fee-Only advisors help reduce my tax liability?
Fee-Only advisors provide objective guidance without earning commissions from financial products. They can run tax projections, recommend contribution strategies, and coordinate retirement income decisions to help lower taxes legally and efficiently. This proactive tax planning helps prevent missed deductions and surprises at filing time.
Is it worth meeting with a financial advisor before filing taxes?
Yes. Meeting with a financial advisor before filing can help you identify last-minute opportunities, such as deductible contributions or state-specific tax credits. Fee-Only advisors can also help you plan ahead to make future tax years more efficient, especially if you’re retired, approaching retirement, or managing multiple income sources.
About Galecki Financial Management
At Galecki Financial Management, we help individuals and families confidently pursue their financial goals. We’re anything but a business-as-usual wealth management firm. We’re different. Friendly. Casual. And really good listeners. Indeed, that’s a big part of what makes us different. Everything we do is based on what we hear from you, because our experienced team of professionals specializes in comprehensive financial planning, cash flow analysis, IRA rollovers, financial services, money management, estate planning, retirement planning, and advising. We help you identify your short- and long-term goals, and then we work together to pursue them. Lastly, and most importantly, we’re Fee-Only, meaning we’re only compensated for our time. Our only incentive is to help you succeed.
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(1) Hypothetical names for illustration purposes
(2) Hypothetical name for illustration purposes