Key Highlights
- A lot of people think the tax-planning window is shut by April 15, but a few good moves are still alive.
- For working households, missed IRA, spousal IRA, and HSA contributions can still turn into real tax savings.
- Side income deserves a second look too, because a SEP IRA can still rescue some tax efficiency from the chaos.
Still Working? 4 April 15 Tax Moves That Could Save You Real Money on Your 2025 Tax Bill
Most of our clients are nearing retirement or have recently retired. For the clients we work with who are still working, these are the four April 15 items we are talking about most often right now and, in some cases, how much they could still save on a 2025 return.
1. You may still have time to fund an IRA for last year
One of the few prior-year moves still open is an IRA contribution for 2025. For 2025, the limit is $7,000 per person, or $8,000 if you were age 50 or older by year-end, and for most people the deadline is April 15, 2026.
You generally cannot contribute more than you earned from work for the year. If you are married and file jointly, your combined IRA contributions generally cannot be more than your combined earned income. Wages, bonuses, commissions, and self-employment income count. Interest, dividends, pension income, and Social Security do not.
Phaseout limits can apply. If you or your spouse are covered by a retirement plan at work, your Traditional IRA deduction may be reduced or eliminated. Direct Roth IRA contributions can phase out at higher incomes too. But that does not always end the conversation. In some cases, a nondeductible IRA contribution may still be on the table, which can open the door, pun intended, to a backdoor Roth later.
Most people know this deadline exists. They just meant to do it and forgot to finish it.
2. Do not overlook the spousal IRA
If one spouse is working and the other is not, the non-working spouse may still be able to contribute to an IRA, as long as you file a joint return and the working spouse has enough earned income to cover the total contribution amount. For 2025, that generally means at least $14,000 of earned income if both spouses are under 50, $15,000 if one spouse is 50 or older, and $16,000 if both spouses are 50 or older.
If neither spouse is covered by a retirement plan at work, a Traditional IRA contribution can still be fully deductible regardless of income. For someone age 50+ in the 24% bracket, one $8,000 deductible IRA contribution saves about $1,920 in federal taxes. In the 32% bracket, it saves about $2,560. If both spouses can each make an $8,000 deductible contribution, you can double those numbers.
3. If you were HSA-eligible, do not forget the HSA
If you had a qualifying high-deductible health plan in 2025 and had not started Medicare, you may still have until April 15, 2026 to make an HSA contribution for 2025. The 2025 limit is $4,300 for self-only coverage and $8,550 for family coverage, plus an extra $1,000 if you are age 55 or older. Employer contributions count toward that limit.
A full $8,550 family HSA contribution saves about $2,052 in the 24% bracket and about $2,736 in the 32% bracket. Plus HSAs are about as good as it gets from a tax standpoint: contributions are generally deductible, growth can be tax-free, and withdrawals used for qualified medical expenses can be tax-free.
4. Side income or 1099 income? A SEP IRA may still be on the table
If you had consulting, freelance, or other 1099 income in 2025, do not assume the planning window already closed. A SEP IRA can generally be set up as late as the due date of the business tax return, including extensions, and contributions are generally due by that same deadline.
We strongly encourage folks with 1099 income to read our SEP IRA vs. Solo 401(k) article. At the 2025 maximum contribution of $70,000, a deductible contribution would save about $16,800 in the 24% bracket, $22,400 in the 32% bracket, and $25,900 in the 37% bracket. Not everyone can contribute that much, but that is exactly why people with 1099 income should not wait until the last minute to see what might still be possible.
Final thought
April 15 is one of the last checkpoints to make sure a few smart moves did not get missed while the prior tax year is still open. If you are still earning income, these are four worth reviewing before the window closes.
