With the Tax Cuts and Jobs Acts of 2017 (TCJA), there are many changes that could potentially impact your personal tax situation this year and also moving forward into 2019. In general, any required action to take advantage of these changes (or to avoid potentially unpleasant surprises) needs to be completed prior to January 1, 2019. Make sure that you are in the best possible position to save money by taking advantage of valuable tax planning services prior to December 31, 2018.
If you received a tax refund last year, and had no significant changes to your personal financial situation in 2018, tax planning may not be necessary for you. If, however, you had to pay taxes with your 2017 return, have had changes in your income, expenses, investment, property or debt situation, are considering retirement within the next few years, or if you would just like to pursue all available tax-saving options and learn exactly how the tax reform may impact you, then a tax planning session with your HW & Associates tax professional is highly recommended.
Please call our office or email your HW & Associates tax professional with any questions or to schedule your tax planning session.