You should re-evaluate your withholdings periodically throughout the year, most especially at tax time and if you have a life changing event such as a new baby, divorce or you get married. The goal with withholding should be to pre-pay your tax to within 10% of your tax liability (high or low). Many people use the government as a "saving plan." They structure their withholding so they get a large refund in the spring. Reduce the amount of withholding and SAVE that amount for whatever. Most of us spend what is in the checkbook and do not save for the future. Try it, you might like it!

 
This information is provided in an effort to help you gather and organize the information necessary to file your individual or small business income tax return. While these financial tools are not a substitute for financial advice from a qualified professional, they can be used as a starting point in your decision making process.