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2020 Tax Withholding: the New Form W-4

Posted by Taylor Bennett on Mar 2, 2020 8:02:00 AM

Form W-4, Employee's Withholding Certificate, has been redesigned for 2020. Previously, income tax withholding was based on an employee's marital status and withholding allowances or tied to the value of the personal exemption. With the revised Form W-4, however, income tax withholding is generally based on the worker's expected filing status and standard deduction for the year. Furthermore, workers can also choose to have itemized deductions, the Child Tax Credit, and other tax benefits reflected in their withholding for the year.

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Topics: Taxes, Managing Your Tax Liability, Tax Preparation

Important Tax Changes for Individuals and Businesses

Posted by Missy Dennis on Jan 9, 2020 8:05:00 AM

Every year, it's a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here's a checklist of tax changes to help you plan the year ahead.

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Topics: Personal Finance, Taxes, Retirement, Managing Your Tax Liability, Tax Deduction, Tax Credit, Tax Return, Tax Planning, HSA, Tax Reform

Individual Taxpayers: Recap for 2019

Posted by Missy Dennis on Dec 4, 2019 8:35:00 AM

As we close out the year and get ready for tax season, here's what individuals and families need to know about tax provisions for 2019.

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Topics: Personal Finance, Taxes, Managing Your Tax Liability, Tax Credit

Year-End Tax Planning Strategies for Businesses

Posted by Missy Dennis on Nov 11, 2019 8:02:00 AM

A number of end-of-year tax planning strategies are available to business owners that can be used to reduce their tax liability. Here are a few of them:

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Topics: Business Ownership, Taxes, Managing Your Tax Liability, Small Business, Tax Return, Tax Planning, Business Expenses

Tax Preparation vs. Tax Planning

Posted by Scott Farnes on Oct 10, 2019 8:23:00 AM

Many people assume tax planning is the same as tax preparation but the two are actually quite different. Let's take a closer look:

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Topics: Business Ownership, Personal Finance, Taxes, Record Keeping, Managing Your Tax Liability, Tax Return, Tax Planning, Tax Preparation