Action to be taken (if applicable) Completed Filling status/withholding * Change filling status or exemptions due to changes in life situation * Change amount of withholding due to changes in tax situation * Plan to make estimated tax payments (due the 15th of April, June, September, and January) Tax records/documents * Organize home files for ease of maintaining and retrieving data * Send current mailing address and correct Social Security number to IRS, place of employment, and other income sources Annual tax activities * Be certain all needed data and current tax forms are available well before deadline * Research tax code changes and uncertain tax areas Tax-savings actions * Consider tax-exempt and tax-deferred investments * If you expect to have the same or a lower tax rate next year, accelerate deductions into the current year * If you expect to have the same or a lower tax rate next year, delay the receipt of income until next year * If you expect to have a higher tax rate next year, delay deductions since they will have a greater benefit * If you expect to have a higher tax rate next year, accelerate the receipt of income to have it taxed at the current lower rate * Start or increase use of tax-deferred retirement plans * Other What's Next for Your Personal Financial Plan? * Identify saving and investing decisions that would minimize future income taxes. * Develop a plan for actions to take related to your current and future tax situation.