Update your W-4’s (for businesses and individuals)

With the passage of the “Tax Cuts and Jobs Act of 2017” personal taxes for individuals and allowable deductions changed significantly.  With that change, the IRS suggested that EVERYONE check their W-4 filings in 2018 with their employers.  And further, in 2019 some more of the tax changes take affect, so it may be to your benefit to check again.   Here is a link to the IRS W-4 calculator)

Business should encourage their employees to look at this before filing taxes for 2018 and again further on into 2019 (as there are some changes that are phased in with the new law).  Additionally, we should anticipate that additional tax law changes will be coming, so remind your employees that it is to their benefit to keep in sync with those changes!

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