Tax Withholding - Are you Paying the Right Amount?
Now is the perfect time to review your wage withholdings. We all know if you don’t pay enough in taxes throughout the year, you may end up owing money when you file your taxes. On the other hand, if you pay too much in taxes, you’ll receive a refund. Refunds are always fun, but for some having that money now would be more beneficial. Just think you could use it for debt management or to save up for a little get-a-way!
You can check whether your tax withholding level is too low or too high by going to http://www.irs.gov and searching for withholding calculator. Enter your information and the program will show you the recommended number of deductions to claim based on your situation.
The information you provide is anonymous and is discarded when you exit the program.
Published Sep 15, 2009.