As a CPA during tax season, I meet with lots of people. Many of them are regular clients who engage in year-round tax planning. For these people, tax season has few if any surprises. Others aren’t so well prepared. No one wants to pay more in taxes than they have to. Two of the best strategies for preventing that are tax planning and early filing.

The Tax Cuts and Jobs Act brought about many changes to the filing of the 2018 tax returns. The 2019 tax return filing season is the first time that the new tax law will be in effect. As you begin prepping for your 2018 tax filing, become familiar with these changes. You can ask your CPA or tax consultant to help you find the tax advantages available to you. 

Have you begun to think about changes to make in the New Year? It's a good time to review your finances and pay particular attention to your retirement plan.  Like most workers, you probably depend on  a combination of employer sponsored and individual plans. There are two primary retirement plan types — 401(k)s and IRAs — and your challenge is to know how to choose the right plan for you.