Do this now to avoid a tax surprise next spring

Do this now to avoid a tax surprise next spring
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WED, AUG 15, 2018
YOUR WEALTH
Straight Talk from the Money Editor
When it comes to planning ahead, I must admit I have a Type A personality. I never like to leave anything to chance, especially money matters. That’s why August is a great time to think about your taxes.

To that point, the good folks at the IRS are urging taxpayers to take a few minutes and use the “Paycheck Checkup” to see if they are having the right amount of tax withholding following major changes in the tax law. The IRS “checkup” offers a variety of tools, including the online withholding calculator, to help taxpayers learn if they need to make changes soon to avoid an unwelcome surprise come tax time.

This summertime checkup on tax withholding is key for the majority of taxpayers who haven’t reviewed their tax situation. Checking and adjusting withholding now can prevent an unexpected tax bill and penalties next year at tax time.

For more cool stuff like this, please follow me on Twitter @jimpavia.

For more, check out CNBC’s Financial Advisor Hub.

Jim Pavia

@JIMPAVIA

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5b460bc98c1ce.png Sharon Epperson
@sharon_epperson
5b44bc0e4b20b.jpg Josh Brown
@ReformedBroker
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