July 12, 2019
Good lesson planning keeps a teacher on track during the school year – and doing some tax withholding homework can help prevent a surprise next tax year. A Paycheck Checkup using the IRS Withholding Estimator helps you pay the federal tax you owe throughout the year, so you don’t owe more than you expect when you file your tax return.
If the estimator suggests you should adjust your withholding, submit a new Form W-4 to your employer.
If you add another job during school breaks, return to the estimator or IRS Publication 505 to recalculate with your additional income.