Newton Financial Planner
How did your taxes come out for 2018? Did you pay what you expected last year?
At the beginning of 2018 there was a reduction to the payroll tax rate as part of the new tax law. While this increased take home pay for workers, it caused some taxpayers—for the first time—to have to make a payment with their 2018 federal income tax return.
The Setting Every Community Up for Retirement Enhancement Act, better known as the SECURE Act, was signed into law on Friday, December 20th.
Given that many of these changes become effective on January 1, 2020, I wanted to get some information out that walks through the major changes created by the new law.
In addition to thinking about your retirement needs, we find that it is common for grandparents to want to help fund their grandchildren’s college education as well. If possible financially, helping to fund your grandchild’s college offers a great way to invest in your grandchild’s future and help them with the ever-growing costs of a college education.