allowances

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Why Getting a Big Tax Refund by Overpaying Taxes is a Bad Idea 

From the time we start working as young adults, we begin to form lifelong beliefs about taxes. One of the most common beliefs is this: “As long as I don’t owe, that’s all that matters.”  Unfortunately, that belief is a myth — and buying into it can cost you a lot of money over time. […]

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money, profit, finance

Understanding Tax Allowances and Withholding

For many employees, the concept of allowances has been one of the most perplexing aspects of calculating one’s income tax. Here is some essential information on allowances and how they coincide with calculating income taxes, in addition to some recent changes made to tax withholding in 2020.  Tax allowances are claimed by an employee so

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