Tax Tip of the Day: Check Withholding to Avoid a Tax Surprise

If you owed tax last year or received a large refund you may want to adjust your tax withholding. Owing tax at the end of the year could result in penalties being assessed. On the other end, if you had a large refund you lost out on having the money in your pocket throughout the year. Changing jobs, getting married or divorced, buying a home or having children can all result in changes in your tax calculations.

If an adjustment is necessary, you can submit a new W-4, Withholding Allowance Certificate, to your employer.

Please contact our office for more information on this subject and how it pertains to your specific tax or financial situation.

Get tax tips right here every day through April 15—exclusively from Berrios & Associates, Inc. on Danshamptons.com! 

About Berrios & Associates, Inc.

Since 1999, Berrios & Associates, Inc. has been providing a distinctive mixture of leadership-knowledge, and customer service satisfying client needs in advisory, tax, and outsourcing. Serving a diverse client base from individuals and sole proprietors to private corporations with nationwide and international locations. In the domain of accounting firms, Berrios & Associates has engraved a distinctive business based on diverse solutions through the interpersonal relationship of corporate and personal tax, corporate back office support, and business growth advisory. The firm directs clients through their everyday operations to ensure they have the right business model in place to meet their business goals.