Update your W-4: Just One Thing to Do

Since May is “budgeting month,” you might expect us to tell you to create a full budget for your one task this month. But let’s be real, building a complete budget isn’t a quick task you can knock out in an hour.

So, instead, we’re focusing on a different kind of budgeting that can prevent major tax surprises: your withholdings.

Since most of us just dealt with taxes last month, now is the ideal time to ensure your estimated tax payments (known as “withholdings”) are accurate. Your W-4 form is basically your budget for how much federal income tax your employer holds from each paycheck. By reviewing and updating it, you can avoid owing a huge tax bill next spring and keep your money on track all year. Ready to see how? Just click here.