{"id":90,"date":"2022-08-12T20:46:00","date_gmt":"2022-08-12T20:46:00","guid":{"rendered":"https:\/\/www.cadentcapital.com\/blog\/?p=90"},"modified":"2022-11-30T20:48:18","modified_gmt":"2022-11-30T20:48:18","slug":"tax-planning-in-dallas-withholdings","status":"publish","type":"post","link":"https:\/\/www.cadentcapital.com\/blog\/2022\/08\/12\/tax-planning-in-dallas-withholdings\/","title":{"rendered":"How to Avoid Being Shocked By Your Tax Bill This Year"},"content":{"rendered":"
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When it comes time for tax season, many clients are unprepared for the bill when it arrives. Learning that more must be paid can leave many individuals scared, uncertain, and desperate for help. Fortunately, there are ways to minimize the shock that can come when filing, and a wealth advisor is here to better explain what you can do when it comes to tax planning in Dallas<\/a>.<\/p>\n\n\n\n\n\n\n\n

Make Sure You\u2019re Paying Enough<\/h2>\n\n\n\n

If you want to avoid penalties when it comes to receiving your tax bill, make sure you\u2019re paying in enough throughout the year. This is done through paycheck withholding or estimated payments. If you pay 90% of your tax obligation for the current year, or if you pay in 100% of last year\u2019s taxes due (if you make more than $150,000 you must pay 110%), you can avoid penalties.<\/p>\n\n\n\n

Consider Your Income Sources<\/h2>\n\n\n\n

Your tax bill shouldn\u2019t just include the money you make through your employer or if you are self-employed. You must also consider other sources of income that you\u2019ll need to add. These can include:<\/p>\n\n\n\n