2018 Taxes Due

Whether you have a CPA or prepare your tax return yourself, here are few words of wisdom.

If you expect a refund, hurry up and file. No sense in the government holding on to your money. Better to put it to good use paying down debt or investing.

If you expect to pay, let Uncle Sam wait for your money. Just make sure you submit by the tax filing deadline. Remember, even if you file an extension, you must pay taxes due by the original deadline.

Also, take a look at your return last year and compare to this year. Does income look similar? How about deductions?

Once you file your 2018 taxes, start the tax planning process for 2019. Take a look at the 2019 tax tables on this site and make adjustments as needed. For example, the limit for IRAs raised to $6,000 for 2019.

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