376: One Thing You Must Do Under the Tax Cuts and Jobs Act of 2018
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 15 February 2018
⏱️ 8 minutes
🧾️ Download transcript
Summary
Learn one crucial thing for you to review under the new tax act.
In this podcast I review some changes made under the new
legislation and the one thing you must do to be smart with your
money.
A link to the article is on my website at www.lindapjones.com.
Transcript
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| 0:00.0 | Be wealthy and smart, episode 376. |
| 0:03.0 | I'm gonna live no rich life. |
| 0:06.0 | Rich life. |
| 0:08.0 | I'm pulling that's life. |
| 0:10.0 | If y'all know what I mean, put your hands up and declare with me |
| 0:13.8 | Yeah, I'm full of pay hey time I'm gonna live the good life |
| 0:20.8 | and you're gonna live the good life |
| 0:21.3 | and you're a glorious light Step into a world of wealth and financial freedom without budgets, boredom or bosses on be wealthy and |
| 0:30.3 | bosses on be wealthy Wealthy and Smart. And now here's your host, Linda P. Jones. |
| 0:38.0 | Welcome to Be Wealthy and Smart. I'm Linda P. Jones, America's Wealth |
| 0:41.6 | Mentor. Empowering Women and Men Worldwide to Financial Freedom. |
| 0:46.1 | On today's show, we're going to talk about something that you might need to do since the new tax law went into effect and that is check your paycheck for the |
| 0:55.4 | right amount of withholding. This comes to us from an article at the |
| 1:00.1 | Washington Post written by Michelle Singletary, and it says, check your paycheck, you might |
| 1:05.8 | be getting too much money. And the article goes like this. With the new tax law comes a home |
| 1:11.3 | assignment. Remember that small form you filled out when you got |
| 1:14.7 | your current job? It's IRS Form W4. This is the form that your employer uses to withhold |
| 1:20.4 | federal income tax from your pay. |
| 1:22.8 | As a wage earner, you are required to pay federal income tax by having it withheld from |
| 1:27.1 | your paycheck throughout the year. |
| 1:29.1 | This is your withholding, which you calculate based on the number of allowances you claim on your W4. |
| 1:35.0 | If your situation changes, you have a child, get married, or purchase a home, |
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