Posted on

6 last-minute moves that can trim your 2020 tax bill


Make an estimated tax paymentIf you’re like nearly half of Americans, you can’t remember the last time you updated your withholding, which tells your employer how much federal income tax to take out of your check. “Inaccurate withholding can lead to an unpleasant surprise come Tax Day,” says Gregory Anton, chairman of the AICPA’s National CPA Financial Literacy Commission.If you haven’t had enough taxes withheld from your paycheck this year, you’ll owe a bill when you file, and may also have an underpayment penalty tacked on.To see what you may owe, enter information from your most recent paystub …

Read More