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
Best Amusement Parks to Visit This Fall
Best Amusement Parks to Visit This Fall Summer is over and vacation season has come to an end, but that doesn’t mean you won’t have any future opportunities for a getaway this fall. There are some great places you can visit if you’re looking for a little break from the ordinary this fall, including numerous…
Top Diets for 2017
Top Diets for 2017 What’s the best diet plan in the world? The answer to that question all depends on whom you ask. Perhaps the real question is do diets even work at all? There are countless studies that say otherwise. However, in reality, we all have a diet. Even if your diet consists of…
Top Golf Competitions for Fall 2017
Top Golf Competitions for Fall 2017 The golf season is winding down in many parts of the country. If you live in a sunny part of the country, like Hawaii, Arizona or California, then you can keep playing year-round. Of course, for those diehard hackers that can never get enough time on the links a…
Stock Dividends or Buybacks?
Stock Dividends or Buybacks? Anyone who invests in the stock market wants to make money. Of course, the most traditional way to do this is buying a stock low and selling it after it increases in value: a capital gain. However, investors can, and do, make money from their investments in other ways, including buybacks…