May 12, 2008
Review those tax exemptions
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Did you owe a lot when you filed your 2007 tax returns? Not
good.
Did you get a hefty refund? Also not good.
If you got too much money back, it typically means you had too much in taxes withheld from your paychecks, usually because you understated exemptions.
To avoid paying more than you need to during the year, check out the IRS' 2008 calculator at www.irs.gov
/individuals (look for the "IRS Withholding Calculator" link). You can also go
to yourmoneypage.com
/withhold/ny.cgi, which calculates both federal and state withholding and exemptions
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