Part of the tax bill the president signed last month is a provision that reduces the employee’s share of the payroll tax for the coming year. Do something thoughtful with your share of this benefit.
The savings can amount to $2000-$4000 for a working couple: Ron Lieber of the New York Times speculates that most workers will fritter it away.
The tax cut represents a painless way to better your financial condition. Your choices include using the savings to reduce debt or to make a meaningful contribution to savings.
So, which will you choose? Or are you willing to be no better off at the end of the year than if you had not gotten a tax cut?
