How to Avoid Owing Too Much in Taxes + Big Tax Refunds | Maximize Your Paycheck!!

How to Avoid Owing Too Much in Taxes + Big Tax Refunds | Maximize Your Paycheck!!

D
Debt Free Millennials
Nov 9, 2022

It's terrible that people celebrate their tax refund day. A tax refund means you paid too much money in taxes throughout the year when you could've had bigger paychecks instead! Let's go over how to avoid getting a large refund and avoid owing too much in taxes.

Resources:
IRS Tax Withholding Estimator - https://apps.irs.gov/app/tax-withholding-estimator
W4 form - https://www.irs.gov/pub/irs-pdf/fw4.pdf
Article with more info - https://www.bankrate.com/taxes/adjust-withholding/

0:00 - Why a tax refund is bad
2:16 - IRS Tax Withholding Estimator tool and what you need
3:11 - Walkthrough of tool
7:26 - Why you might owe taxes this year
9:14 - My experience with owing taxes

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