Knowing the right amount to withhold so you do not end up owing taxes at the end of the year can be a delicate balancing act. ABS Payroll & HR is here to help.
According to the IRS in their article “Pay as you go, so you won’t owe: A guide to withholding, estimated taxes and ways to avoid the estimated tax penalty,” there are a few different options to consider when it comes to reducing the amount you could owe at tax time.
“Changes in your life, such as marriage, divorce, working a second job, running a side business, or receiving any other income without withholding can affect the amount of tax you owe,” the IRS said.
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Article with all rights reserved, courtesy of the IRS —- https://www.irs.gov/
