07/01/2026
With the year already more than halfway through, it's a perfect time to check if your federal withholding is on track. Here's how you can do the math yourself:
1️⃣ Determine Your Total Annual Income: Start by estimating your total income for the year, including wages, bonuses, and any other taxable income.
2️⃣ Understand Your Filing Status: Know whether you're filing as single, married filing jointly, head of household, etc., as this affects your tax bracket and standard deduction.
3️⃣ Calculate Your Expected Tax Liability: Use the IRS tax brackets to estimate your total tax for the year. Subtract any tax credits you qualify for, such as the Child Tax Credit or education credits.
4️⃣ Divide by Pay Periods: Take your expected tax liability and divide it by the number of pay periods in the year (e.g., 26 for bi-weekly, 12 for monthly) to find how much should be withheld each period.
5️⃣ Compare to Current Withholding: Check your pay stub to see if the current withholding matches your calculation. If not, consider adjusting your W-4.
6️⃣ Adjust as Needed: If your calculations show you aren’t withholding enough (or too much), fill out a new W-4 form to adjust your withholding.
By ensuring your withholding aligns with your tax liability now, you can avoid surprises at tax time. For more personalized assistance, feel free to reach out to us! 📞 (615) 763-3328
