Mid-Year Tax Checkup
It’s hard to believe that we are halfway through the year already. July is a good time to make sure that you are making the best choices for your tax health. Here are some tips to help make tax time 2019 less stressful.
- Check your withholding. The best thing that you can do to decrease the uncertainty about your taxes is to withhold the proper amount. July is a good time to do this, because you have enough of the year under your belt to have a good idea about your income and withholding, but enough time to do something about it if you need a change. Take your pay stub from as close to June 30 as possible and write down your year-to-date wages and year-to-date withholding. Double both, and subtract your standard deduction from your wages. Check to make sure that you’re withholding the correct percentage of your wages based on the table to the right.
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