ATLANTA, Aug. 20, 2026 /PRNewswire/ — As 2026 enters its final months, retirees and pre-retirees have a limited window to make tax-planning decisions that could affect how much of their retirement savings they ultimately keep.

Aaron Gaines, CFP^®, founder of Gaines Capital Management, says retirees often focus on investment performance while overlooking another question: how and when their savings become taxable income.

“People spend 30 or 40 years asking, ‘How much can I accumulate?’” Gaines said. “In retirement, the question changes to, ‘How much can I actually keep and efficiently turn into income?’”

Gaines identifies five areas to review before December 31:

1. Evaluate Roth conversions.
Lower-income years before required minimum distributions begin may provide opportunities to convert portions of tax-deferred retirement accounts to Roth accounts. Conversions create taxable income, making timing important.

2. Plan ahead for required minimum distributions.
RMDs generally begin at age 73 under rules. Planning before mandatory withdrawals begin may provide greater flexibility in managing taxable income.

3. Review the enhanced senior deduction.
Taxpayers age 65 and older may qualify for an additional federal deduction of up to $6,000 per eligible individual, or $12,000 for qualifying married couples. The deduction is available through 2028 and phases out at higher income levels.

4. Coordinate Social Security and retirement withdrawals.
Social Security benefits, pensions, IRA distributions, Roth conversions and investment income can interact for tax purposes. Reviewing these income sources together may help retirees make informed withdrawal decisions.

5. Don’t wait until tax season.
Certain strategies intended to affect the 2026 tax year must be completed by December 31.

“Tax preparation tells you what already happened,” Gaines said. “Tax planning asks what we can still do before it happens.”

Gaines Capital Management incorporates tax planning into The Gaines Plan, the firm’s coordinated approach to retirement income, investments, taxes, healthcare and legacy decisions.

“Retirees shouldn’t have an investment strategy over here, a tax strategy over there and an income strategy somewhere else,” Gaines said. “Those decisions affect one another. The goal should be one coordinated retirement plan.”

About Gaines Capital Management

Gaines Capital Management is a registered investment advisory firm led by Aaron Gaines, CFP^®, serving retirees and pre-retirees through retirement planning and investment management.

This material is for informational purposes only and is not individualized investment, tax or legal advice. Individuals should consult qualified professionals regarding their circumstances.

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SOURCE Gaines Capital Management LLC