IRS Withholding Calculator
Because of the changes for 2018 in tax law, I advise everyone to take a few moments to fill out this calculator now, so changes can still be made.
Some employers have automatically given you more out of every paycheck, but it could mean a lower refund for you, or even that you owe taxes. If you take a moment to see where you stand now, there’s still a few months to change your withholding so you have the refund that you expect, or can have enough taken out for taxes so you don’t owe any money.
Now, strategy related to tax returns is very personal–I know all the personal finance literature says you should receive as little as possible in a tax refund. From a pure numbers standpoint, I agree, but I also know many people like to get a sizeable check, and like to be able to earmark it for something special. In general, it’s important to do well what works for you. We can all agree that owing taxes in April is not a good idea.
Regardless of your strategy, this calculator takes about 10 minutes, tops, to fill out, and you will have a good “guesstimate” of your tax situation, and the time to change your W-2 if need be.
Personal Capital–free finance and net worth tracker.
This is a website that helps you to see, in real time, what your net worth is, and even manage your spending, your money, and your investments.
I have had a Personal Capital account for several years. I do use it and find it very user-friendly and helpful. Of course I use it in my own way, so I plan to write a full review of Personal Capital and how I use it, so stay tuned.
In the meantime, setting up an account is free at the moment. I don’t think that will ever change, but who knows? And, if you sign up for Personal Capital through this link, you will get $20 as a sign-up bonus.
Helpful Podcasts
Until (and even after) the Your Money Mom podcast goes live, here are some of my favorite podcasts related to personal finance:
ChooseFI – High energy interviewers Jonathan & Brad highlight people working towards or living a “FI” (financially independent) or “FIRE” (financial independence, retire early) lifestyle. I enjoy their high energy, positive interviews, the “optimizing” strategies, and
Bigger Pockets Money – Bigger Pockets is a website for real estate investors, but this podcast is more of general interest related to money. I like Mindy Jensen as she
Rule Breaker Investing – Dave Gardner, co-founder of the popular Motley Fool investment service (including their flagship and most basic and inexpensive–yet valuable– service, Motley Fool Stock Adviser — I’ve been a subscriber for years) riffs on way, way more than money or investing. Fun to listen to, and much more educational in a
Motley Fool Answers – Another podcast from Motley Fool, and also very entertaining. Helps people understand the basics of personal finance through the charming co-hosts Alison Southwick and Robert Brokamp.
Side Hustle School – Host Chris Guillebeau manages to pack in so much content and interest in these 5-10 minute daily podcasts about creating a side hustle. Over time just about any one will get information about starting a micro-business, how to market, avenues for sales, and more. Also he loves puns so I am all in.
You Need a Budget founder Jesse Meachem has a bare-bones, occasional podcast talking about various personal finance issues. There’s not a link to it on the YNAB website, but you can search for it in any podcast site. And I do use YNAB, though I don’t take advantage of all the features. Here’s a link to sign up to YNAB–we each get a free month if you sign up through my link.
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