Now is the smart time to plan next for year’s taxes. An early start enables you to make adjustments that may save you money — maybe a lot of it. Once the tax year ends, there are fewer tax-reduction moves you can make. With that in mind, here are five things you can do now to make next April 15 easier for everyone.
1. Review your paycheck. Make sure your employer is properly withholding and reporting retirement account contributions, health insurance payments, charitable payroll deductions, and other items. These payroll adjustments can make a big difference to your bottom line. Fixing an error in your paycheck now gets you back on track before it becomes a huge hassle.