Welcome to Venac Consulting, your all-in-one tax and business development solution that is designed to empower individuals and businesses alike to take control of their taxes, reduce tax liabilities and increase net savings progressively. How do you navigate complexities of tax planning for your business?

Ten Comprehensive Tax Planning Tips

• Standard vs. Itemized: For 2026, the standard deduction is $16,100 for single filers and $32,200 for married couples filing jointly.

• Individual Retirement Accounts (IRAs): Fund Traditional or Roth IRAs (limit of $7,500, including catch-up rules if applicable) depending on whether you want immediate deductions or tax-free future withdrawals.

• Optimize your business structure. Learn about the tax advantages of converting your business and pinpoint the key benefits that could gradually lower your business tax liabilities.

• Manage Capital Gains Brackets: You can realize long-term capital gains tax-free if your taxable income remains below the 0% bracket thresholds, such as under $49,450 for single filers or $98,900 for joint filers.

• Execute Strategic Roth Conversions: Convert pre-tax IRA or 401(k) funds into Roth accounts during lower-income or early-retirement years to take advantage of lower tax brackets (such as the 10% and 12% tiers) and enjoy tax-free growth.

• Maximize Tax-Advantaged Retirement Accounts: In 2026, you can contribute up to \$24,500 to a traditional or Roth 401(k), with catch-up contributions of \$8,000 for those aged 50 and older, or \$11,250 for those aged 60 to 63.

• Health Savings Accounts (HSAs): Fund an HSA in 2026 with $4,400 for individuals or $8,750 for families to enjoy triple-tax benefits—tax-deductible contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses.

• Leverage Qualified Charitable Distributions (QCDs): If you’re 70½ or older, you can send up to the statutory limit tax-free from your traditional IRA directly to a qualified charity. This can help meet required distribution rules while also lowering your adjusted gross income (AGI).

• Utilize Tax Location for Investments: Put high-growth stocks in Roth or other tax-free accounts, and keep lower-growth or interest-heavy fixed-income investments in tax-deferred or municipal bond accounts to protect yields.

• Roll Over Unused 529 College Savings: Under SECURE 2.0 rules effective in 2026, it is possible to transfer funds from a long-standing 529 education plan into a Roth IRA for the beneficiary, subject to a lifetime limit of $35,000 and an annual limit of $7,500.

‍

Venac Consulting makes managing taxes easy. We focus on simplifying tax planning, keeping it accessible, and helping businesses reduce their tax liabilities.

‍

‍

Let us help you unlock the power of tax planning

We offer thorough personal tax planning with year-round strategies for retirement, investments, deductions, and healthcare, all aimed at reducing your adjusted gross income (AGI) and overall lifetime tax burden. Book a meeting with one of our tax advisors to kickstart your plan.

‍

‍

‍