Good Financial Reads: Maximize Your Benefits and Pay as an Employee
Now is a Great Time to Get a Paycheck Check-Up
I thought I’d never say this, but I like the IRS website. Not necessarily the IRS or the tax system we have in place. Just their site. It has great information about taxes you can find answers to almost anything tax-related. One very useful tool on their site is their Withholding Estimator. If you are a W-2 employee, I suggest you use it now to estimate your tax liability and see if you are with your taxes for the year. Don’t wait. A paycheck checkup can help you see if you’re withholding the right amount of tax from your paycheck. Too little could mean an unexpected tax bill or even a penalty, both of which you are better off avoiding. Too much can mean a tax refund. While it may be nice to get a refund, it also means your paycheck every period is smaller than it could be. Why not shoot for zero or a small refund and save the money instead?