After the massive overhaul of the U.S. tax code, most people are wondering how their return might be affected next year. The short answer is: it affects everyone differently. There’s no concrete way to know until we dig into your situation.
Tax planning is not the same as tax preparation, yet many households and businesses only think about taxes during preparation season. Taking advantage of available tax benefits requires a little forethought and proactivity. So, start tax planning this summer with a mid-year check-up. It can help you make sense of recent changes and identify opportunities that could benefit you for 2018. We simply need copies of your current pay stubs and knowledge of any changes to 2018 income to produce a projection for next year’s return.
Every year, you have until Dec. 31 to set yourself up for success for next year’s filing, but the sooner you start, the better. Ready to plan for your taxes rather than just have them prepared? Schedule a consultation with our tax team today.
Blog by Erica Shaloy, Tax Director.
Category: Leaders, Tax and Accounting Team
