It’s Time to Start Preparing for Your 2017 Taxes

Shot,Of,An,Attractive,Mature,Businesswoman,Working,On,Laptop,In

 

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

Posted in
Regenerative Medicine and Creating Health with Dr. David Haase

Regenerative Medicine and Creating Health with Dr. David Haase

Dr. David Haase, Founder of the MaxWell Clinic discusses regenerative medicine and creating health on Alan Olsen‘s American Dreams Show. Transcript: Alan Olsen Welcome to American Dreams. My guest today is David Haase. David, welcome to the show.   David Haase Thanks, Alan.   Alan Olsen So do you have a remarkable background and career obviously that…

VC Insights From Silicon Valley Veteran Andrew Romans

VC Success With Silicon Valley Veteran Andrew Romans

Andrew Romans, General Partner of 7BC Venture Capital, Author, and University Professor discusses navigating Silicon Valley, venture capital (VC), startup success, and the future of tech investment on Alan Olsen‘s American Dreams Show. Transcript:   Alan Olsen Welcome to American Dreams. My guest today is Andrew Romans. Andrew, welcome to today’s show.   Andrew Romans Thank you so…

How Entrepreneurs Shine by Gino Wickman

How Entrepreneurs Shine With Gino Wickman 

Gino Wickman, Founder of EOS Worldwide and author of “Shine” and “Traction: Get a Grip on Your Business” discusses How to shine as an Entrepreneur on Alan Olsen‘s American Dreams Show. Transcript:   Alan Olsen Hi, this is Alan Olsen and welcome to American Dreams. My guest today is Gino Wickman. To welcome to today’s show.   Gino…

Energy Sector Investments Unveiled by Invito CEO Steve Blackwell

Energy Sector Investments Unveiled by Invito CEO Steve Blackwell

Steve Blackwell, Founder & CEO of Invito Energy Partners discusses unveiling Oil and Gas investments in the Energy sector on Alan Olsen‘s American Dreams Show. Transcript:   Alan Olsen Hi, this is Alan Olsen and welcome to American Dreams. My guest today is Steve Blackwell. Steve, welcome to do a show.   Steve Blackwell Thank you,…