I just found out that I'm getting a $12,500 raise and promotion. This is pretty significant for me as a single mother who just bought her first house earlier this year!
Can anyone give me some advice on what to do? Things to change/look out for? I'm already maxing out my 401k matching. The change is from $37,500 to $50,000, are there any tax changes I need to be aware of? Right now, I have nothing taken out of my paycheck for federal taxes because of how my refunds and tax liability has been for the past few years. Does this need to change? (Not married, 2 children, baby due in a month so 3 kids by the time I file taxes for 2017.) I have no debt apart from my mortgage, so there aren't any credit cards or car payments or anything like that to consider.
Any advice is very, very welcome. This came as a total shock so I don't quite know what to do with myself!
Submitted June 14, 2017 at 11:50AM by moosecliffwood http://ift.tt/2tmzqEu
