When the new tax law was enacted almost a year ago, your take-home pay probably increased. My concern is that the changes will result in millions of taxpayers owing in April.
While giving is primarily inspired by our desire to help others, getting a tax break in April is frosting on the cake.
New Tax Law Affects 2018 Returns
Evaluating Your Financial Health
Potential Steps To Take For 2017 Taxes
Think About Adjusting Your Income
Prioritize Your Investments To Support Your Situation
Retirement Funds: Options to Think About
While some tax breaks are straightforward, there are those that may face the chopping block when it comes time to “simplify” our federal and state tax codes.
Whenever we start working with financial planning clients, we review their past tax returns. While many of them are ably self-prepared, we have found that with some categories of people it makes sense to use a tax professional.