#PaycheckCheckups: Why Regular Reviews of Your Tax Withholdings Are Essential
Why Check Your Withholding?
Tax laws change, and so do life circumstances. Whether you’ve had a change in marital status, welcomed a new family member, or shifted your career path, each of these milestones can affect how much tax you should be paying throughout the year. By checking your withholding now at irs.gov/withholding, you ensure that the amount of tax taken out of your paycheck matches your actual tax liability as closely as possible
Avoid the Unexpected
Nobody likes surprises when it comes to finances. Adjusting your withholding can prevent scenarios where you owe more tax than expected or receive a large refund. A large refund might sound nice, but it actually means you’ve loaned money to the government interest-free over the year. Ideally, your withholding should align closely with your actual tax obligations, keeping more money in your pocket throughout the year.
Empower Your Financial Strategy
Regular paycheck checkups are a critical part of maintaining your overall financial wellness. They give you the power to make informed decisions about your income and expenses and help you plan better for the future. At Fresh Start Financial, we’re not just about reacting to changes—we’re about proactively managing your financial landscape to foster stability and growth.
Take Action Today
We encourage everyone to take a few minutes to visit irs.gov/withholding and use the IRS Withholding Estimator. This tool makes it easy to figure out if you need to make any adjustments to your withholding. Being proactive today can save you from stress and financial strain in the future.
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