Learn from anything you did wrong in 2018
The 2018 tax year is the first one with the Tax Cuts and Jobs Act’s changes in place, so it’s going to be a learning experience for many Americans. One of the smartest things you can do is to identify potential areas for improvement and make appropriate adjustments.
If not enough tax was withheld from your paychecks this year, consider asking your payroll department to increase your withholdings. If you didn’t contribute as much as you would have liked to your 401(k), go ahead and increase your contribution rate now. In short, if there’s something you could have done better in 2018, learn from the experience and set yourself up for success in 2019 and future years.
