Tom Meaglia photo

Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

November/December 2026

Year-End Tax Wins

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.


SUBSCRIBE

Enter your Name and Email address to get
the newsletter delivered to your inbox.

Please include name of person that directed you to my online newsletter so I can thank them personally.


CONTACT US

Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting 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.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.