Categories: Mind & Soul

26 Ways the GOP’s Tax Reform Will Affect Your Wallet

23. Wither Withholding?

The new law is causing quite a ruckus in payroll offices around the country. Under the old law, the amount of tax withheld from paychecks was based on the number of allowances employees claimed on W-4 forms. And, the number of allowances was tied closely to the number of exemptions the worker claimed on his or her tax return. Starting in 2018, there are no exemptions, so there’s a mad scramble going on to figure out how to set withholding under all the new rules.

The new law orders the secretary of the Treasury to come up with a new system, but also says 2018 withholding can be based on the old rules. Keep an eye out on this one.

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27

smartlivingtips

Recent Posts

8 Stories of People Who Doubled Their Income

If you’re not making as much money as you want or deserve, don’t be discouraged.…

6 years ago

Places You Should Visit Off-Season

Any clever traveller will tell you that the best time to visit a popular destination…

6 years ago

Habits of Impeccably Groomed Men

Time was, a man who spent too long in the bathroom was met with a…

6 years ago

Secrets Park Rangers Want You to Know

No matter which park you’re visiting, walk at least a quarter-mile down a trail. You’ll…

6 years ago

The Worst Things About Living in the Suburbs

Suburbia has long been a punchline in America. It's synonymous with homogenized neighborhoods, garish McMansions,…

6 years ago

These Neighbor Horror Stories Will Make You Cringe

In a perfect world, we would all live in sitcom-level neighborhoods with perfectly groomed lawns,…

6 years ago