Tuesday, April 07, 2009

Not so stimulating

Heh. The new payroll tax tables go into effect this month, adjusted for the "Making Work Pay" credit our Celebrity-in-Chief pushed through.

As a result, our on campus News Briefs publication is full of warnings on how the credit may result in under withholding; in short, you may end up owing taxes at the end of the year because you've already received your refund in the form of lower withholding. People - particularly those in two income families or those who have more than one job - are urged to check their withholding and their tax projections carefully to avoid surprises next April.

My best advice? Get thee to an accountant.

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