In a recent “Mesirow Monday” segment on WGN’s Your Money Matters with Jon Hansen, Gary Pattengale, CFP^®, Advanced Planning Specialist and Wealth Advisor at Mesirow, shared timely tax season insights and planning considerations for individuals and families ahead of the April 15 filing deadline.

During the segment, Pattengale emphasized the importance of patience during tax season, noting that filing too early can lead to complications as revised or delayed tax documents — particularly amended 1099s — are common across custodians. He advised taxpayers to take a measured approach and, if necessary, consider filing an extension while ensuring estimated tax payments are made on time.

Pattengale also highlighted several planning opportunities that remain available before the filing deadline, including prior year Health Savings Account (HSA) contributions for eligible individuals. He underscored the value of HSAs as one of the most tax efficient savings vehicles available, offering potential tax deductions, tax deferred growth, and tax free withdrawals for qualified medical expenses.

In addition, Pattengale discussed recent changes to the state and local tax (SALT) deduction limits, noting that the temporary increase may allow more taxpayers to itemize deductions than in recent years. He encouraged individuals to carefully track property taxes, state income taxes, estimated payments, and taxes paid with prior year returns to ensure deductions are fully captured.

The conversation also covered emerging considerations such as new deductions related to interest paid on qualifying new vehicle loans, as well as the importance of communicating 529 plan contributions and rollovers to tax preparers to avoid missed state level benefits or unintended recapture taxes.

“Mesirow does not prepare tax returns, but we work closely with clients and their CPAs to provide proactive, integrated tax planning,” said Pattengale. “Our goal is to help clients make informed decisions throughout the year — not just at filing time — so their financial strategies align with both current and future tax considerations.”

Mesirow Wealth Advisors collaborate with clients’ broader advisory teams, including CPAs and estate planning attorneys, to deliver coordinated, comprehensive advice designed to support long term financial goals.

Mesirow Wealth Management is the firm’s founding capability, connecting clients to what matters today and across generations. The firm’s Wealth Advisors bring personal, comprehensive planning, expert investment guidance, and exceptional service to individuals and families. Learn more at mesirow.com/wealth.