Changes coming in 2026, including the "haircut" rule and a new annual gross income floor will reduce the tax value of clients' charitable deductions, writes Mark Parthemer of Glenmede Trust Co. He advises strategies such as bunching donations and using donor-advised funds to maximize tax benefits in 2025. "Charitable intent doesn't begin with tax strategy -- but smart timing can make generosity go further," Parthemer writes.

More on charitable giving opportunities:

• Advisors can differentiate themselves by integrating philanthropy
• Charitable planning key to deepening client relationships
• Advisors steer clients toward smarter, structured giving strategies

Long-term care planning is shifting from fear-based discussions to a focus on flexibility, according to financial advisor Nicolas Thornton. Traditional LTC insurance is less appealing due to rising premiums, prompting clients to consider hybrid life/LTC policies, annuities with LTC riders and health savings accounts, Thornton writes.

The 2026 tax filing season could be particularly challenging because of IRS layoffs, the recently ended government shutdown and tax law updates, says former IRS Commissioner Danny Werfel. Taxpayers should expect more mistakes, slower responses and possibly delayed refunds, says Jeff Bush of The Washington Update, who recommends that advisors plan ahead to mitigate potential issues.

The renewal of Affordable Care Act tax credits is facing challenges as the deadline approaches, with the Senate Finance Committee taking the lead. Finance Committee Chairman Mike Crapo, R-Idaho, and Ranking Member Ron Wyden, D-Ore., are key figures in the discussions. Democrats want a clean extension, but Republicans are pushing for changes, including an income cap and minimum premium payments.

The Securities and Exchange Commission is reopening after a 42-day federal government shutdown ended, but financial advisors and firms might face delays as the agency manages a backlog of filings and examinations. The shutdown also halted new advisor registrations, with compliance experts noting that it is unclear whether the statutory 45-day clock for new registrants began upon filing or when the agency reopened.

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