SERVICES
Tax withholding
checkup
Tax withholding checkup
and help prevent surprises.
What You
Should Know
What You Should Know
A tax withholding checkup should be seen as a preventative measure - like going to the doctor for your annual checkup. Many of us, especially in present times, experience major life changes every year and even multiple times a year in some cases. This includes but is not limited to marriage, divorce, newborns, additional jobs, unemployment compensation, relocation, and anything else you can reasonably expect to change your yearly income or tax position.
When your employer is onboarding you, one of the forms you submit is called a ‘Withholding Allowance Certificate’. This is a form that you fill out to let your employer know any specific information in determining the correct income tax withholdings for your paycheck. There is one form that reflects your federal tax withholdings called the ‘W-4’ and then for states that impose an individual income tax, they will have a form as well.
What we provide, is a service in which we use your living and employment situations to review your tax withholdings to see whether you’re on the right track for the year. Normally, this service is recommended to be done mid-year and as frequently or infrequently as you’d like. Some choose to have it done at the beginning of the year, and then after any life changing events such as a change in household or job.
What You Should Expect
This process is relatively straightforward. We will have a brief discussion as to the reason the checkup is being done, and then request a set of documents from you to assist in running the withholding checkup.
We will communicate via your preferred method (E-mail, Phone, Zoom) to address all of your questions and concerns to make sure we don’t miss any important details.
We use a secure client portal, which you may access via the web or an app right on your smartphone that provides you with a simple method of uploading all of your documents to us simply by taking clear pictures of them.
Using our discussion and the documents we collect, we will prepare the most accurate tax withholding forms possible.
After sending a copy of your tax withholding forms to you via the secure client portal, we are prepared to review the details with you to make sure you are comfortable with understanding how the results were achieved and what they mean for you.
We will share any insight and recommendations on how you can be more effective and efficient in your tax strategies for the year to come.
