June 24, 2024
Question:
How often should I look at my tax return?
Answer:
At Rooted Planning Group we think of tax planning year-round and incorporate it into every aspect of our practice. We’ve said it before, but we consider your tax return one of the key planning documents along with social security estimates and investment statements. We recommend that all our clients look at their tax return at least two times a year.
As a next step, why don’t you set a reminder in your calendar to review your 2023 tax return in September. You can compare how your dividends and capital gains look and if your income is higher or lower. There are still 2 estimated tax payments in September and January to make any adjustments necessary.