Payroll withholding is when a portion of your income is not included in your take-home pay. Instead, the money taken out of your paycheck is directed towards paying federal, state, or local tax authorities.

There has been much confusion around whether unemployment benefits under the CARES Act are taxable or not. As an unfortunate surprise to many, the unemployment benefits are indeed taxable.

Have you looked at your paycheck and asked yourself, “Where are all these tax deductions going?” Great question, and we are here to give you answers!

Find out how federal dollars are being spent.

After being hired, and on day one of a new job, you will be required to complete a W-4 form. We will discuss tax withholding, gross pay, and net pay.

Whether you use a spreadsheet or another form of tracking your spending, you’ll feel more empowered when it comes to your finances and can finally begin to save money for things you want and need when you know exactly where your money is going.