Tag: withholding

What Changes are in the New W-4 Form for 2020?

Amherst, NH Taxpayer Has Questions

The biggest change to the new W-4 Form, debuting in 2020, is that there are no longer withholding allowances.  Previously, more allowances claimed would mean that less of your paycheck would be taken for taxes.  Instead, questions such as filing status, family income, dependents and the tax deductions that you plan to claim will be asked to determine your withholdings. 

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Are Your Tax Withholdings Accurate?

Brookline Resident Finds Out the Hard Way

The amount of taxes withheld from your paycheck is a science, withhold too little and you get hit with a big tax bill.  Too much and you miss out on extra cash throughout the year.  For employees, the W-4 is what largely determines how much tax is held.  Factors that may make you want to revisit your tax withholding include a change in marriage status, dependents, home ownership, or a change in your spouse’s employment.

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405 Daniel Webster Hwy
Merrimack, NH 03054
(603) 429-2009

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Wednesday: 9AM-4PM
Thursday: 9AM-4PM
Friday: Closed
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Tuesday: 9AM-5PM
Wednesday: 9AM-5PM
Thursday: 9AM-5PM
Friday: 9AM-4PM
Saturday: 9AM-2PM