Did you:

  • have either a large balance due or refund received on your 2023 tax return
  • change jobs the beginning of 2024
  • change your marital status this year?

If so, we recommend contacting your tax preparer to see if any adjustments may need to be made to the taxes withheld from your pay or to your quarterly estimated tax payments scheduled to be paid for 2024 .

Getting a head-start on your tax planning considerations earlier in the year vs waiting until closer to year-end makes it easier to achieve your desired goals.   Making a few minor changes early in the year can result in a bigger impact than if you wait until the end of the year. Waiting until year-end often requires a significant adjustment to make up for the entire year with only a month or two remaining at that point.

If you think changes may be needed or would like to discuss the items mentioned above, contact your tax preparer who can advise you on how to best prevent big surprises at tax time next winter.