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All the New Numbers You Need To Know for Planning Ahead on Taxes

GOBankingRates Logo By Laura Woods of GOBankingRates | Slide 1 of 7: If you’re like many people, you’ve always known the importance of planning for the future, but the COVID-19 pandemic has further underlined this need. Your taxes aren’t due until April 15, 2021, but it’s never too early to start looking ahead. The IRS has released 2021 tax numbers, so you know where you stand in key categories like tax rates and retirement plan contributions. This allows you to know exactly how much you’ll be taxed and ensure your retirement plan contributions don’t exceed the maximum amount. This is important because you don’t want to be hit with an unexpected tax bill or penalties that could’ve been easily avoided. Take a look at the details you need to get your finances in order far ahead of tax day. Last updated: Oct. 30, 2020

If you’re like many people, you’ve always known the importance of planning for the future, but the COVID-19 pandemic has further underlined this need. Your taxes aren’t due until April 15, 2021, but it’s never too early to start looking ahead.

The IRS has released 2021 tax numbers, so you know where you stand in key categories like tax rates and retirement plan contributions. This allows you to know exactly how much you’ll be taxed and ensure your retirement plan contributions don’t exceed the maximum amount. This is important because you don’t want to be hit with an unexpected tax bill or penalties that could’ve been easily avoided.

Take a look at the details you need to get your finances in order far ahead of tax day.

Last updated: Oct. 30, 2020

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