The TTS Collaborative, Issue #1: Clarity and Confidence Before Year-End
- Jane Watkins
- Individual Tax Focus
Table of Contents
Clarity and Confidence Every Tax Year
Our first issue with an individual tax focus: what to know, and what’s worth doing, before December 31.
In this issue
Welcome to The TTS Collaborative, and to our first issue with an individual tax focus. Earlier this year we introduced our new individual tax service packages, and this newsletter is one more way we’ll keep you informed between tax seasons, so you always know where you stand and what’s worth acting on.
01 · News from us
You’ve Called Us TTS for Years. We’re Leaning Into It.
Many of you have called us TTS for years, so we’re leaning into it. You’ll notice our refreshed branding puts TTS front and center, including our new look at www.ttsadvisory.com.
Along with the new branding comes a stronger focus on advisory, helping you approach each tax year with more clarity and confidence.
02 · Tax advisory, explained
What Is Tax Advisory, and Why Should You Care?
Tax preparation looks back. It reports what already happened. Tax advisory looks ahead: it’s about understanding where you stand during the year, while there’s still time to make choices that affect what you owe.
| Tax preparation | Tax advisory |
|---|---|
| Looks back at last year | Looks ahead at this year and next |
| Reports what already happened | Helps shape what happens next |
| Once a year, in the spring | Throughout the year, when decisions are made |
| Answers “What do I owe?” | Answers “What can I do about it?” |
For you, that means fewer surprises in April and decisions made with the tax impact in mind. A new job, a home purchase, equity at work, a growing family, or planning for retirement: with advisory, we talk before the decision, not after it.
Our individual tax packages are designed to meet you where you are in this journey, with each one building on the last:
- Essential: Your tax filings are accurate, on time, and clearly explained. (Looks back)
- Enhanced: You avoid tax surprises and make informed decisions throughout the year. (Forward-looking)
- Premium: Your tax strategy is proactively designed to support cash flow, growth, and long-term savings. (Forward-looking)
03 · Let’s talk
There’s Still Time This Year
If we haven’t connected since you filed your last return and something significant has changed, now is the time to tell us. A new job or raise, a marriage or divorce, a new baby, buying or selling a home, starting a side business, stock sales, or retirement can all change what you owe, and many of the best moves have to happen by December 31.
Or if you’d just like to talk a few things over, grab a time that works for you. It’s a quick 20 minutes.
Enhanced package clients only
Enhanced clients: don’t forget your mid-year tax strategy & planning call
If you signed up for our Enhanced individual tax package, a mid-year tax strategy & planning call is included with your plan. If you haven’t scheduled yours yet, there’s still time, and we’d love to chat. We’ll look at where your year stands and help you avoid surprises before it closes.
04 · Before December 31
Our Top 5 Tax Moves to Consider Before Year End
Several of these come from the 2025 tax law, and one (No. 03) is brand new for 2026.
No. 01: Check your paystub
Dec 31: last payroll changes that count for 2026
Pull up your latest paystub and look at your federal and state withholding, and your 401(k), HSA, and FSA deductions. With only a few paychecks left, small changes now can prevent a surprise in April. If you earn tips or overtime, check that they’re tracked: new deductions let you deduct up to $25,000 of qualified tips and up to $12,500 of qualified overtime pay ($25,000 joint). Income limits apply.
No. 02: Max out your 401(k)
$24,500: 2026 401(k) limit, under 50
It’s one of the easiest ways to save real tax dollars.
| Age | 2026 limit |
|---|---|
| Under 50 | $24,500 |
| 50 and older | $32,500 |
| Ages 60 to 63 | $35,750 |
Contributions have to come out of your paychecks by December 31, so raise your percentage with payroll now. IRA contributions (up to $7,500, plus $1,100 if 50+) can be made until April 15, 2027.
No. 03: Give to charity, even if you don’t itemize
$2,000 married filing jointly ($1,000 single)
New for 2026: If you take the standard deduction, you can still deduct up to $1,000 (single) or $2,000 (married filing jointly) of cash gifts to charity. Gifts must be cash, check, or card to a qualifying public charity (donor-advised funds don’t count). Keep your receipts and give by December 31. If you itemize, the rules changed for you too.
No. 04: Buying a car? Only new cars qualify
$10,000: car loan interest, new cars only
You can now deduct up to $10,000 a year of car loan interest, whether or not you itemize, but only if the vehicle is new, not used. It also must have final assembly in the U.S. (check the window sticker), be for personal use, and have a loan that started after December 31, 2024. Leases don’t qualify, and the deduction phases out above $100,000 of income ($200,000 joint).
No. 05: Know the new SALT limit
$40,400: 2026 SALT cap (was $10,000)
The cap on deducting state and local taxes (state income tax plus property tax) rose from $10,000 to $40,400 for 2026. If your income is over $505,000, the cap shrinks, but never below $10,000. It only helps if you itemize, so for many California homeowners itemizing is worth another look. If you’re under the cap, paying your second property tax installment before December 31 may help.
New: If you’re 65 or older, you may get an extra deduction of up to $6,000 per person (income limits apply).
Have questions about any of these? Book a quick 20-minute call and we’ll talk it through.
05 · From our blog
By Jane Watkins
Back from the IRS Nationwide Tax Forum: Where the IRS is heading and what it means for you
Jane recently attended the IRS Nationwide Tax Forum in San Diego. The big takeaway: more of your dealings with the IRS are moving online, with fewer phone calls and mailed letters.
The article covers the simple steps worth taking now: setting up your IRS online account, using the new official IRS app, paying electronically with IRS Direct Pay, and spotting the scams that come with all of it.
Want more like this? Follow along on our blog →
06 · Happy Thanksgiving
Happy Thanksgiving
From all of us at TTS, Happy Thanksgiving to you and your family and friends.
Our office will be closed Thanksgiving week
Monday, Nov. 23 – Friday, Nov. 27
For payroll questions or anything that can’t wait, please contact Raghu at raghu@taxtimeservices.com or (760) 371-1828.
Here’s to finishing the year with clarity and confidence. Thank you for trusting us with your taxes.
Warm regards,
Jane and the TTS Team
This newsletter is for general information only and is not tax, legal, or financial advice for your specific situation. Figures reflect 2026 IRS limits and current law as of November 2026 and may change. Have questions? We’re always happy to help.