Filing Your Taxes Isn’t the Finish Line — It’s the Start of Strategic Planning, Says AndPartners
ST. LOUIS, April 21, 2026 (GLOBE NEWSWIRE) -- As millions of Americans wrap up tax season, many are ready to move on. But according to Matt Doran, leader of Advanced Planning at &Partners, that mindset may be costing them significantly over time.
“Most people treat filing their taxes as the end of the process,” Doran said. “In reality, it’s one of the best opportunities to step back, evaluate what happened, and make strategic decisions for the future.”
Doran emphasizes that a completed tax return is more than a record of past activity — it is a powerful planning tool. By reviewing how income, deductions, and credits came together, individuals can identify opportunities to help improve their tax outcomes in the years ahead.
A shift from short-term savings to long-term strategy
According to Doran, one of the most common mistakes taxpayers make is focusing solely on reducing their tax liability for the current year. “Tax planning should be about minimizing the total tax you pay over your lifetime, not just this year,” he said. “If you avoid taxes today but end up paying more later, that’s not a win.”
This long-term approach requires a more strategic view of when and how income is recognized. While deferring income is often seen as the default strategy, Doran notes that it is not always the most effective. “If tax rates are favorable today, it may make sense to accelerate income rather than defer it,” he said. “Timing matters more than most people realize.”
Beyond tax brackets: Hidden costs and missed opportunities
Modern tax planning extends well beyond traditional tax brackets. Doran points to the growing importance of income thresholds tied to credits, deductions, and additional costs.
These include eligibility limits for benefits such as the child tax credit, as well as “stealth taxes” like the net investment income tax and higher Medicare premiums that can increase total tax liability without a change in bracket. “Managing where your income lands can be just as important as how much you earn,” Doran said.
Turning a tax return into a planning road map
Doran recommends using a freshly filed return as a starting point for proactive planning.
Key areas to review include:
He also highlights the importance of coordinating with trusted advisors to help identify opportunities that may otherwise be missed. “Many tax planning opportunities are time-sensitive,” Doran said. “If you don’t act within a given year, they can be lost permanently.”
With one tax year complete and another already underway, Doran encourages individuals and families to act sooner rather than later. “Filing is not the finish line,” he said. “It’s the starting point for proactively managing and helping reduce the taxes you pay over time.”
Media contacts: Trevor Wade, &Partners, trevor.wade@andpartners.com, and Kate Ennis, DAI Partners PR, (301) 580-6726
About &Partners
&Partners is a rapidly growing, advisor-owned wealth management firm built for advisors seeking greater ownership, flexibility, and community. Founded by former Wells Fargo leaders and based in Nashville, Tennessee, and St. Louis, Missouri, the firm offers a hybrid model that combines competitive payouts with equity participation, institutional support, and access to a collaborative peer network. Having quickly grown to 112 practices with approximately $54 billion in prehire assets as of March 31, 2026, &Partners provides a platform where advisors can build lasting businesses on their terms without sacrificing service, scale, or culture. To learn more, visit andpartners.com.
&Partners does not render legal or tax advice. This communication cannot be relied upon to avoid tax penalties. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your tax return is filed. Any examples provided are hypothetical and for informational purposes only. It is not intended to represent any specific investment or strategy, nor is it indicative of future results.
&Partners is the enterprise trade/marketing name for Ampersand Partners LLC, a Delaware limited liability company, and its subsidiary, &Partners, LLC, a Tennessee limited liability company registered with the U.S. Securities and Exchange Commission as a broker-dealer and investment adviser. Securities and investment advisory services offered through &Partners, LLC, member FINRA and SIPC.