- Discussion covered year-end tax planning strategies that can help investors and families make informed financial decisions before 2026 concludes.
- Key topics included new charitable deduction rules, inherited IRA distribution requirements, retirement plan contribution opportunities, and 529 college savings considerations.
- Pattengale emphasized that September is an ideal time for proactive tax planning, allowing individuals to evaluate opportunities while there is still time to impact their tax outcomes.
CHICAGO, Sept. 15, 2026 /PRNewswire/ — In a recent “Mesirow Monday” segment on WGN’s Your Money Matters with Jon Hansen, Mesirow Wealth Advisor and Advanced Planning Specialist Gary Pattengale, CFP® discussed important tax planning considerations for individuals and families as year-end approaches.
During the conversation, Pattengale highlighted several provisions that may affect taxpayers in 2026, including changes to charitable deductions for both standard deduction and itemizing taxpayers. He encouraged listeners to review their giving strategies and evaluate how new deduction thresholds may impact their tax situations.
Pattengale also discussed the increased state and local tax (SALT) deduction limits available to many taxpayers, while noting that income-based phaseouts may affect higher earners. He stressed the importance of modeling tax scenarios in advance to help avoid unexpected outcomes.
The discussion also covered inherited IRA requirements, including distribution rules for non-spouse beneficiaries and the importance of developing a withdrawal strategy that aligns with long-term tax objectives.
In addition, Pattengale encouraged savers to review their 401(k) contribution levels before year-end, particularly those eligible for catch-up contributions, and reminded families using 529 college savings plans to ensure reimbursements for qualified education expenses occur within the same calendar year as the expenses incurred.
“September is an ideal time to focus on tax planning rather than tax preparation,” said Pattengale. “By reviewing charitable giving, retirement savings, inherited accounts, and education funding strategies now, individuals may have greater flexibility to make informed decisions before year-end.”
At Mesirow Wealth Management, the firm’s Wealth Advisors provide personal, comprehensive planning that integrates investment management with tax-aware strategies, estate planning considerations and long-term financial planning. By taking a comprehensive view of each client’s circumstances, the firm helps individuals and families navigate complex financial decisions with clarity and confidence.
Mesirow Wealth Management is the firm’s founding capability, connecting clients to what matters today and across generations. Learn more at mesirow.com/wealth.
About Mesirow
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Private Capital & Currency, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture.
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