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Federal Income Tax: Are You Withholding Enough?

Changes made by the 2017 Tax Cuts and Jobs Act will affect your 2018 tax return.

The law revised personal exemptions, as well as the Child Tax Credit so, to avoid unpleasant surprises this tax season, the IRS is encouraging everyone to do a “Paycheck Checkup.”

There’s an online withholding calculator available so you can determine if you’re setting aside too much, or not enough.  Based on your checkup results, you might want to submit an updated W-4 form to your payroll specialist.

To get expert payroll advice for your employees click here.

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