Cindy Hockenberry Quotes on Money & Wealth (3 Quotes)

I'm not thinking the accelerated tax rate reductions would have a huge impact. They always like to say it's an economic stimulus package because they want to give the illusion that the economy is recovering that people will have more money. But it's only a small drop in the tax rates and I don't think in the grand scheme of things most taxpayers are really going to notice it.

Because of the way this form used to work, it calculated the tax as if you had received the money over a five-year period. You would divide it into five equal parts and pay taxes on each of those parts which significantly reduced your tax bill.

People often wait until the last minute to get this done and realize they can't do it this year. Another reason they should plan early is so they can notify their employees so they can start deferring their money.