Tax

Parents and grandparents of high school students have a wistful feeling about the child they’ve watched grow up, as well as a concern for what lies in their future. It’s only natural to want to help that future scholar navigate their financial hurdles to a great education.

To help raise revenue to pay for President Biden’s Build Back Better Plan, Congress is considering a number of tax law changes, including adjusting estate taxes.

It's never too early to start looking at your tax obligations for the coming tax season. The information in this article is for the 2023 tax year, which most taxpayers will file in 2024.

Rushing to file your tax return before the deadline may mean making mistakes that could have been avoided. Even now, there is still plenty you can do to plan ahead and prepare before filing your taxes. Here are eight steps designed to help tax filers save money and avoid surprises when filing this year. 

Step #1: Figure Out Your Filing Status