If you're unhappy with your 2018 taxes, now is the time to make changes to head off a similar result next year. Be aware that you'll need more than the IRS tax calculator to get the most accurate results.
Hoping to avoid a tax surprise for 2019? Talk to your accountant before you use the IRS tax withholding calculator.
Further, the Treasury Department and the IRS also updated the withholding tables that employers use to help deduct the appropriate amount of income tax from workers' paychecks. "A lot of people don't understand the line items and you have to make sure you're accounting for that accurately," said certified financial planner Debbie J. Freeman, a CPA and director of financial planning at Peak Financial Advisors in Denver.How much income tax your payroll company pulls from your paycheck depends on the number of allowances you claim on Form W-4.
However, that result doesn't consider the Garden State's individual income tax rate, which is as high as 10.75%.
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