SAN JOSE — Host, Sarah Rutan: When it comes to income taxes, many taxpayers overlook their yearly withholdings. Today we’re in San Jose with Diamond Certified Expert Contributor Russell Barnett, EA to learn how you can avoid this.
Diamond Certified Expert Contributor, Russell Barnett: I wanted to talk about withholding. To pay attention to it throughout the year; make sure that you’re not having too much or too little withheld. Nobody like a big surprise at the end of the year in terms of a tax bill. People should be aware that, oftentimes, lump-sum payment or payroll items such as bonuses, commissions, stock grants, etc. are only within federally at 25 percent. Read more