As we start the new year and we begin reviewing our W-2s and filing our income taxes, we here at Outstaffing wanted to share an amazing free tool from the IRS called the “Tax Withholding Estimator”.
This tool will allow you, and your employees, to predict your annual income taxes owed by inputting pay, pay adjustments (e.g. medical, 401(k), etc.), adjustments such as alimony, etc., deductions (itemized or in detail), and any tax credits you may be eligible for.
The information provided will allow an employee to better understand and adjust for their bi-weekly federal tax withholding.
As always, a new W-4 can be filed at anytime throughout the year. Click and share THIS LINK to get started today!