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Tax Corner — Don’t Miss These Year-End Tax Deadlines

December 9, 2025 | Weekly Commentary

The last few weeks of December are hectic, but do not let key tax deadlines pass you by. Missing these deadlines could mean paying more in taxes. Here is what to do before December 31st to keep your taxes on track:

  1. Take Your Required Minimum Distributions (RMDs)
    If you are 73 or older, or inherited certain retirement accounts like an IRA, you must withdraw a certain amount (called an RMD) by year-end. If you don’t, you could face a steep penalty of up to 25% of the amount you should have withdrawn. Double check your accounts to confirm you have taken your RMD to avoid surprises.
  2. Charitable Contributions
    To deduct charitable gifts for 2025, donations must be made by December 31st. This includes checks postmarked by that date, credit card charges, and online donations. Stock and other appreciated asset donations may require extra processing time — so don’t wait until the last minute.
  3. 529 Plan Contributions
    Some states, like Pennsylvania, offer a tax benefit for 529 contributions. You will need to add money to the account before December 31st to claim it on your 2025 tax return. This is a great way to save for education while lowering your state tax bill.
  4. Energy Tax Credits
    Are you in the process of making energy-efficient home improvements in 2025, like new windows, doors, or solar panels? Be sure they are installed by December 31st to qualify for federal tax credits. These can reduce your 2025 tax bill, but you will need receipts and proof of the work.

Being aware of these deadlines now can help you prioritize your time — and avoid costly mistakes.