Gary Botwinick Quoted In Consumer Reports In, “How Much Tax Will You Owe Next Year? Get An Inside Look Now.”
October 11, 2018As seen in Consumer Reports/www.consumerreports.org, October 3, 2018
Check your withholding and take other steps to get more in your paycheck now or limit the damage later
“The Tax Cuts and Jobs Act of 2017, with its lower tax rates and higher standard deduction, has put extra money in workers’ paychecks in 2018. And many taxpayers may realize when they do their taxes next season that they’re eligible for even more tax breaks.
But why wait for that money until you get your refund, leaving it in the government’s hands? Unless you’ve already done so, now is the time to calculate your withholding under the new tax law and adjust your W-4 withholding form, the IRS says. You may find, for instance, that a doubling in the child-tax credit for dependents under age 17 adds more to your take-home pay now. ”
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