It’s Time to Start Preparing for Your 2017 Taxes
The tax season is officially over for most people, and by now many taxpayers have already put their refund to good use. However, while almost everyone would rather not think about taxes for the next 10 months, or so, the fact is, this is a good time to start looking at next year’s taxes. In fact, by taking a close look at this year’s return, you can learn some important things for next year.
So here are some things to pay attention to. First off, did you get a large refund, or did you end up owing the IRS money? Chances are, one way or the other you need to take a look at your W-4. If you get a big refund then you are probably having too much withheld. On the other hand, if you still owed the IRS money then you are not having enough withheld.
Your 401k is another thing to revisit. Are you maxing it out? If not, then you are missing out on some extra tax savings. Of course, if you need that money now then you can only set aside so much. However, if you can afford to put more away for later, then you should definitely take full advantage of it.
Another good thing to start planning for right now is your list of deductions. Start tracking your receipts and keeping an accurate record. This will help you when you try to figure out your itemized deductions next year.
Lastly, if you like to make charitable donations then you could use your IRA to make those contributions. You get to help a good cause and the contribution won’t hurt your adjusted gross income.
http://www.cnbc.com/2017/04/07/ignore-these-2016-tax-lessons-at-your-peril.html
Faith, Freight & “Slaying the Tomb”
How the Moscrips Drove From Freight Tech to Faith-Fueled Media When Scott Moscrip launched Truckstop.com from a spare bedroom in 1995, he didn’t just build a freight-matching marketplace—he rewired a blue-collar industry for the Internet age. Thirty years, five kids, and one mayoral term later, the Idaho technologist and his wife, Carmen, are chasing an…
From the Streets to Self-Reliance
How Joseph Grenny’s Other Side Village Is Rewriting the Homelessness Playbook A 2 a.m. Alarm and a Box of World-Class Doughnuts At two o’clock each morning in downtown Salt Lake City, former rough-sleepers slip into spotless aprons, fire up industrial mixers, and begin turning out pillowy brioche rings glazed with passion-fruit icing and drizzled…
Building a Legacy: A Fireside Chat with Martin Luther King III
In a thought-provoking fireside chat at our Legacy Builder’s Conference, Martin Luther King III shared profound insights on the concept of legacy, leadership, and the moral imperatives facing society today. Speaking with Alan Olsen, he reflected on his father’s enduring impact and his own efforts to carry forward that mission in today’s world. Defining His…
Turning Ordinary Lives into Living Legacies
“There was a measurable connection between how well they knew their family stories and how successful they were.” — Kasia Flanagan, founder of Everyday Legacies When historian‑turned‑biographer Kasia Flanagan examined the lives of mixed‑race German‑Samoan descendants for her PhD, she expected to chart migration patterns and cultural shifts. What she didn’t expect was the data point that changed her career:…