Making the Most of your W-4

A commonly misunderstood practice is the filling out of your W-4 for your employer. Some people would like to have more money withheld from their paycheck so they can get a "bigger" return at the end of the year. In actuality, the ideal situation is to take out exactly enough to cover your taxes and not a cent more. Having more money withheld is essentially giving the government an interest-free loan.

With that in mind, how do you know how many personal allowances to put on your W-4? I have looked into several calculators for this purpose, and I will share with you the one that I found most accurate. It takes some time to do, but is definitely worth it!

Visit the IRS website to calculate how many personal allowances to put on your W-4. CLICK HERE Then click the link at the bottom of the page that says "continue to withholding calculator."

Let me know how it goes for you!