Keeping Up With the Speed of Change: Planning for 2018

         It seems today, that the only constant that we can rely on is change. Whether that is true or not, there are many things that we do need to be aware of, and adjust to. There are waves of change that hit us and it's our responsibility to keep moving forward. That is especially true now.

         With all of the changes that have recently taken place, trying to look ahead and plan for the Tax Year of 2018 is very different than it was in 2017. The brackets have changed and overall taxes have changed. This is a situation that will require some patience. It is needed because no one can say for any certainty how things will definitely work out.
          One reason this is true is because the IRS has not yet issued guidelines on what needs to be done in different situations. Paychecks, for example, may look the same once or twice in the year before payroll companies are told how to adjust tax withholdings. After that, they can catch up. If you try to estimate on your own, it can lead to added stress and more recalculations. Going ahead of the IRS is usually never a good idea. The best advice for now is to keep good records and just wait for the IRS to give its determinations. It may take almost a year for some of these decisions and applications to be made, but you won’t have to file a Return under the new laws for about a year anyway. It’s best to focus on filing for this year, and let next year develop on its own.

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