Category: Tax Planning

Paycheck Tax Overhaul

Filing out your W-4 could get much more difficult starting as soon as 2020.  Your W-4 is the form you complete to indicate how much to have withheld from your paycheck for taxes.  Currently, you simply indicate 0, 1, or 2 where ‘0’ is the…

IRA Contributions

Weekly Update – IRA Contributions It’s not too late to make a contribution to an Individual Retirement Account (IRA) for the 2018 tax year as the deadline is April 15th, 2019.  An individual can contribute up to $5,500 if under the age of 50, and $6,500…

Tax Refunds Down 17%

Weekly Update – Tax Refunds Decrease The IRS is reporting that the average 2018 tax refund is down 17% from last year in wake of the new tax law.  Why are refunds lower, and what can we do to better prepare in 2019? The Why: The…