Filing 2017
Federal Income Tax Return/Carlos Pueblo
This time
every year, I must file income tax for myself and my son Arthur and
I do finish
my task for 2017 recently, even though I am a little bit late to get my
filing software
and some firm’s statement is late to come. It’s very simple yet
I still like
to address it as a matter of fact.
Arthur’s
filing is much less stressful because we have decided to contribute 50%
of his earned
income toward his company’s 401k plan; therefore, his 2017 pay
check 50%
less. This is an effective tax planning as well as financial planning. I
explain to
him the advantage of saving during his life time and estimate his asset
level in another
10 years.
2017 Stock
market generated more dividends than previous years; therefore our
Income increased
a little bit. It posted no threat by any way of our income tax
liability.
We still are able to manage the increase of tax through a higher standard
of $19,450
per family of two, an increase of 100%. I write a check to IRS and expect
no surprise
in 2018. The U.S. is a stable country no matter who is the president, if
there is no
war expanse, everything is manageable.
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