Well you can start by paying the absolute minimum, since the feral government relies on everyone overpaying to get a refund especially in the first quarter when refunds go out.
So if you haven't yet, change your exemptions. Use the worksheet to take the max exemptions allowed to you (absolutely legal). Then stay on top of it. use the calculator on the IRS website every quarter, or even monthly, to check where you are in terms of what you still owe. As soon as you have met your obligation, go exempt. Double check every month or so if your wages go up or you do a lot of overtime.
If you manage your taxes right, barring EITC or other tax credits you shouldn't get a refund of more than a few hundred dollars. Or you should owe no more than a few hundred, better to end up owing.
When you owe, file and pay at the last minute.
Advanced players, like me and hubby starting next year, reduce their income to get out of net taxpayer status or into the lowest practical tax bracket. We are used to living simply, so we can do this. This year we have paid next to nothing anyway due to COVID killing our business and hubby not working several months while he recovered from surgery.
Well you can start by paying the absolute minimum, since the feral government relies on everyone overpaying to get a refund especially in the first quarter when refunds go out.
So if you haven't yet, change your exemptions. Use the worksheet to take the max exemptions allowed to you (absolutely legal). Then stay on top of it. use the calculator on the IRS website every quarter, or even monthly, to check where you are in terms of what you still owe. As soon as you have met your obligation, go exempt. Double check every month or so if your wages go up or you do a lot of overtime.
If you manage your taxes right, barring EITC or other tax credits you shouldn't get a refund of more than a few hundred dollars. Or you should owe no more than a few hundred, better to end up owing.
When you owe, file and pay at the last minute.
Advanced players, like me and hubby starting next year, reduce their income to get out of net taxpayer status or into the lowest practical tax bracket. We are used to living simply, so we can do this. This year we have paid next to nothing anyway due to COVID killing our business and hubby not working several months while he recovered from surgery.