Wendy Baker, Tax Professional
@WendyBaker
First, you will want to review what your withholding's are on your W4. You may have entered too many exceptions. If you are single, with no schedule A deductions, your withholdings should be Single and 1. Not 2 or 3. You may also want to look at contributing to an 401K if your company provides that option. If not then look at setting up an IRA that will give you a savers credit on your return and lower your tax liability.
Craig Smalley, Tax Professional
@cwseapa
You should probably talk to a qualified tax accountant before the end of the year, to see exactly why you keep owing taxes each year. The costs associated with this meeting should be nominal, and very enlightening.
Craig W. Smalley, E.A.
Admitted to Practice Before the Internal Revenue Service
Mark Nolan, Compliance Officer
@Mysolo401k
Tax shelters such as a solo 401k is a great way to reduce your taxable income because contributions reduce your taxable income. My Solo 401k Financial
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