Are You Ready For 2017?

It seems like 2016 was not such a great year for a lot of people; especially this holiday season. 2016 definitely went out with a bang, just not a good one. But 2017 is here now - are you ready??

Below is a list of reminders for heading into 2017:

• Adjust your W4 if necessary
• Make retirement contributions before April 15
• Increase your automatic savings by 1%-3% (you'll hardly notice)
• Set up new budget goals for the year

January 23rd is the first day that the IRS will be accepting e-files but this doesn't mean that you can't have your tax return completed before 1/23/17. Once your return is complete your tax professional will only have to hit send when the blessed day arrives.

There are a few other things to note for 2017:

• Business mileage rate will be 53.5 cents per mile (down from 54 cents)
• Tax returns are due April 18th
• Some refunds may be delayed due to new IRS anti-fraud regulations
• Open enrollment for health plans ends on Jan. 31st

As always, if you have any question about tax planning for the year ahead, I am here to help.

Wishing you all the best of happiness, health and success in 2017!

​Liz