Since the IRS released its tax withholding guidelines last year as a result of the tax cut legislation, I’ve been concerned that many would owe a significant amount when they file their 2018 taxes.
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.