GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
That includesGen Zer workers too, a population thats growing each year.
In addition, about 57% of Gen Zers plan to or expect to change jobs within the year.
With more Gen Zers in the workforce at various different jobs, proper tax planning becomes necessary.
You might be wondering why tax planning is so important.
Here are seven ofthe best tax planning strategies to start now, according toIntuit TurboTaxandCNET:
1. you’re able to use theIRSs Tax Withholding Estimatorto determine the correct withholdings based on your income.
This will directly reduce your taxable income, which should result in more money back in your pocket.
Educate Yourself
As they say, knowledge is power.
Stay informed abouttax law changesand other related developments that may impact your finances.
When youreself-employed, youre responsible for paying your tax bill to the IRS.
Theres also the Lifetime Learning Credit (LLC) which offers a maximum $2,000 tax credit.
More From GOBankingRates
Share This Article:
