AboutRichard Fritzler Expertise I am in the business of tax planning for business owners. Our company helps business owners structure so that they can be reduce the taxes that they owe, making them far more profitable.
Experience Since 1986 I have been helping successful business owners reduce taxes, protect assets, and limit their liability. The company is Owelesstax, incorporated at www.owelesstax.com
Organizations National Small Business Owners Association.
Nevada Association of Listed Resident Agents.
Citizens Legal Association
The Business Owners Institute
Publications Contributing author to "The Corporate Standard Newsletter".
I am also a writer for an email newsletter about business
Googlegroups/Successfulbusiness
I am also an Expert in the areas of Tax Law, Retirement Planning, and Estate tax issues.
Question hi mr. fritzler! i have a question about tax planning. now, my annual salary is 48,835. we get paid every two weeks, or 26 times a year. now what i am doing is having them take 346.85 every two weeks for federal tax, and 99 dollars every 2 weeks for state tax. my question is, do you feel like i am having them take enough to get a good refund, or do you feel like i should have more taken out, be it state or federal? thank you much!!
Answer Using your withholding as a forced savings plan is poor tax planning.
You are giving an interest free loan to the IRS.
If in spite of those statements you still want the IRS to keep more of your money so they can give it back to you at the end of the year. You will need more details to determine how much of your payment is necessary and how much is excessive.But you should know. So go to the IRS website, www.irs.gov and use their withholding calculator by entering all the required information, to determine exactly how much of your withholding will be available for a refund.
