Here is the new IRS TAX Withholding Calculator. This is best suited for anyone who earns Wages/W2 Income and you want to verify that your withholdings are sufficient going forward. You can access the calculator on the IRS website via this link.
If the event you need to increase your withholdings, you can do what our students are doing to mitigate the impact and start the 7 Day Free trial via the link below:
The IRS has done an exemplary job in providing us with the calculator early in the year so we can plan accordingly. In summary, here are the options if your withholdings are insufficient:
Those who earn their income on the right side of the quadrant (e.g. business owner and/or investor) most likely won't find the calculator useful. Confirm this with your CPA/Tax Advisors.
In case you didn't see the episode released last year when I interviewed Sep, I encourage you to do so, it's entitled "It's Too Expensive to Work for money". You can get the episode again if you missed it via this link.
Feel free to share this post with others whom could benefit so they too can plan accordingly. Remember, "Knowledge is to be shared not hoarded".
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