The NEW 2020 W-4

There are NEW federal payroll withholding tables in effect for 2020 resulting in LESS federal taxes being withheld from your paycheck. The NEW W-4 for 2020 will result in less withholding from your paycheck than in 2019.  If you are filing a 2020 W-4, PLEASE consult with your tax preparer.  My friend, Frank DeMaio, District Manager for ADP has provided the attached link for more detailed information relating to this topic.

IRS 2019 Form W-4 Represents Major Changes to Payroll

The NEW W-4 for 2020 will result in less withholding from your paycheck than in 2019.  If you are filing a 2020 W-4, PLEASE consult with your tax preparer.

The NEW W-4 for 2020 

There are NEW federal payroll withholding tables in effect for 2020 resulting in LESS federal taxes being withheld from your paycheck. The NEW W-4 for 2020 will result in less withholding from your paycheck than in 2019.  If you are filing a 2020 W-4, PLEASE consult with your tax preparer.  My friend, Frank DeMaio, District Manager for ADP has provided the attached link for more detailed information relating to this topic.

IRS 2019 Form W-4 Represents Major Changes to Payroll

The NEW W-4 for 2020 will result in less withholding from your paycheck than in 2019.  If you are filing a 2020 W-4, PLEASE consult with your tax preparer.

Minimum Wage Changes

As of December 31, 2019, the minimum wage has increased to:

New York City    $15.00

Long Island        $13.00

Upstate              $11.80

For more exact information, please Google your specific location

Now is the perfect time of year for all taxpayers – individuals as well as businesses, to take stock of their year to date income and expenses. 

There is still time to adjust your 2019 tax bite.  Some, but not all options are:       

• contributions to and/or creation of retirement accounts
• charitable donations
• changing your payroll withholding or your final quarterly estimated tax payment.