Tax Season: Time to get financially fit

Tax season is a good time for a strategy challenge to keep your taxes in top form year-round.

Find a Trainer

You’ll want a heavyweight tax professional in your corner. Don’t have one? Ask your financial advisor, other professionals, friends and family for a recommendation and get interviewing.

Take It to the Max

If you have earned income, push your retirement contributions to the limit. Some limits increased for 2019 so ask your advisors for details. Bulking up your tax-advantaged savings can trim your taxable income, too.

Dig Deep

Have you had life changes since the last tax season? Make sure you understand how life changes can impact your tax bill.

Crunch Your Numbers

If employed, your employer withholds a certain amount of pay for taxes based on your W-4. Withhold too much and you’re giving the IRS an interest-free loan; too little and you’ll owe. Find the number that’s just right by using the withholding calculator on the IRS website (irs.gov/Individuals/IRS-Withholding-Calculator) or discussing your W-4 with your tax pro.

Get Disciplined

Getting your taxes in shape takes dedication and commitment. Diligently track and review your deductible expenses and donations.
Discuss these strategies with your professional tax advisor; your financial advisor can help coordinate the conversation. Then you can relax, knowing you’re in great shape for this tax season and beyond.

TFCU Financial Advisors
6501 Tinker Diagonal, MWC
(405) 737-0006
TFCUFinancialAdvisors.org

Securities are offered through RAYMOND JAMES FINANCIAL SERVICES, INC., Member FINRA/SIPC, and are not insured by NCUA or insured by any other government agency. Funds are NOT GUARANTEED nor are they deposits or obligations of the credit union or any affiliated entity of the credit union, and are subject to risk, including the possible loss of principal. Tinker Federal Credit Union, Tinker Financial Services, LLC and TFCU Financial Advisors* are not registered broker/dealers and are independent of Raymond James Financial Services, Inc. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc., a non- affiliated third party provider to Tinker Financial Services, LLC and Tinker Federal Credit Union. All investments and information are intended for U.S. residents only. *TFCU Financial Advisors is a registered trademark and ‘dba’ of Tinker Financial Services, LLC. Some portions of this information was prepared by Broadridge Investor Communication Solutions, Inc. Remember that, while they’re sound strategies, diversification, asset allocation, and dollar cost averaging can’t guarantee a profit or eliminate the possibility of loss. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.