Tax Withholdings Assessment ($350): This option is meant for those who are looking to understand if they are withholding the correct amount of income tax from their paychecks. In this approach, we annualize yours (and your spouse's) W-2 income and tax withheld by using your most recent paystubs and assuming everything else is similar to the previous year. This outcome will ultimately determine if you need to make any adjustments or if things are good where they are at.
Tax Liability Assessment ($750): This option is meant for those who are looking to understand what their anticipated tax liability will be for the tax year based on an event, circumstance or lifestyle change that took place. This option would be ideal for those who have a business or farm, inherited a large sum of money, sold investments or real estate, or have a change in tax status. In this approach, we calculate your entire taxable income for the year and adjust for isolated events. The outcome for this comprehensive approach will ultimately determine what you can expect to (or should) pay to the government to avoid underpayment penalties.