[youtube https://www.youtube.com/watch?v=eVSgIrNJ1MI]Approximately one year ago the tax laws went through some significant changes. These changes, which went into effect in 2018, have a direct impact on the amount of federal taxes withheld from your paycheck. The IRS encourages everyone to do a paycheck checkup to ensure you are having the proper amount withheld from your paycheck. [...]
People with disabilities can now put more money into their tax-favored Achieving a Better Life Experience (ABLE) accounts and may, for the first time, qualify for the Saver’s Credit for low- and moderate-income workers, according to the Internal Revenue Service. The Tax Cuts and Jobs Act, the tax reform legislation enacted in December, made major changes [...]
The Internal Revenue Service encourages taxpayers who typically itemized their deductions on Schedule A of the Form 1040 to use the Withholding Calculator this year to perform a “paycheck checkup.” People who have itemized before may be affected by changes from the Tax Cuts and Jobs Act. Taxpayers who itemize should use the IRS Withholding Calculator [...]
[youtube https://www.youtube.com/watch?v=6FSOyxkhxdM]You may be wondering how your taxes will be affected next year due to the new tax laws that are now on the books. Will you get more money back or will you end up owing more? The only way to know for sure is to use the withholding calculator from the IRS. You can [...]