Tag - #taxwithholding

Do I Have to Pay Estimated Taxes?

Who Must Pay Estimated Taxes Do I have to pay estimated taxes? This is a normal question to ask, but it is important especially if you’ve made any changes in your profession. The Estimated Tax Rules Apply to: U.S. citizens and resident aliens; Residents of Puerto Rico, the U.S. Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa; and Nonresident aliens General Rules In most cases, you must pay estimated tax for 2018 if both of the following apply. You expect to [...]

Read more...

Paycheck Checkup- April 12, 2018

Hello Fellow Taxpayers, The Tax Cuts and Jobs Act made major changes to the tax law. Because of this, you should do a paycheck checkup using the Withholding Calculator on IRS.gov and, if necessary, complete a new W-4 form. The calculator will help determine the right amount of withholding and can help prevent having too little (or too much) tax withheld. Recent changes affecting withholding include: Reduced tax rates Elimination of personal exemptions Increased standard deductions: $12,000 for singles, $18,000 for heads of households [...]

Read more...