Will Your Federal Withholding Be Enough?

With the new tax law in effect for 2018, the news has been about tax breaks, higher standard deductions, and lower tax brackets in 2018. There have also been reports about the withholdings for workers dropping so they have more in their paychecks. This is all good news, however we have noticed that the new withholding tables may be reducing your withholding too much. The new tax law has many advantages for taxpayers (lower rates, higher standard deduction, more child tax credit, etc.). However it also has some disadvantages (cap of state taxes at $10,000 and loss of dependent exemptions, among others). We are noticing with some of our clients that the disadvantages are outweighing the adv

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© Copyright 2018, Cornerstone 360. All Rights Reserved

Cornerstone CPA Group, LLC

6420 West 95th Street Suite 202 
Overland Park, Kansas 66212

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Main Phone: 913.381.8350 
Fax: 913.381.7589