paid more than $1000 in taxes, or
got a tax refund in excess of $1000
You may want to adjust your 2015 withholding to help you have a more reasonable payment or refund for next year. If you’re paying too much in taxes, then you may want to withhold more over the course of the year. Another idea is to set up a sinking fund that pulls money from your checking account each month so that you’re ready to pay when the tax man calleth.
If you’re getting too much of a refund, then you many want to adjust your withholding to bring home more each month. This is especially important if you’re paying off debt or saving for a large purchase.
I know. I know. You just finished 2014 taxes and don’t want to even think about going through this again next year, but meeting with your tax preparer now will make 2015 far more relaxing for you. If you’re looking for CPAs, I’m happy to recommend Jenn & Keith Klein (firstname.lastname@example.org).
Happy tax day!
ps. Check out my video here on setting up a filing system for tax documents.