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Half of the year is almost over. Don’t wait until the end of the year to do your planning. It’s time for your Mid-Year Tax Review. 1) Review your withholding. Review your prior year income tax return for the income tax paid. Check your year-to-date paystub to see if your withholding is tracking where it needs to be. If you need to adjust your federal withholding, file … Continue reading »
Taxpayers must pay their taxes "as they go." For many taxpayers, their income taxes are withheld from their paychecks. For taxpayers that don't have any withholding, they will need to make estimated tax payments.
Employers need to get three tax documents from new employees before they start work.
The first half of the year is in the books. It's time to take a look at your withholding and estimated tax payments. Why is this important? To avoid any potential penalty for underpayment of estimated taxes.