Time to Start Thinking about 2014 Taxes – 2014 Year End Tax Tips: Part 1 – Withholding

With 2013’s taxes finally out of the way, it’s time to focus full-time on your 2014 tax bill.

Did you pay a large tax bill or receive a large refund on your 2013 tax return? You should think about  adjusting your payroll withholding. Changing your tax withholding will help you obtain the preferable zero tax owed/refunded. You can avoid a huge all-at-once payment on April 15th if you normally owe.  If you tend to get large refunds, avoid giving the government an interest-free loan during the year and put more cash into your pocket!

You can change your withholding by submitting a W-4 to your payroll department. 

If you need help determining your correct payroll withholding, contact Gallati Professional Services!

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