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But for many it comes with a nice bonus at the end: that greattax refund.
The refund comes because someone overpaid the government.
But what would happen if you changed your withholding status for taxes?
The first step is to fill out anew W-4 form.
Thats the paperwork you filled out with an employer so they know how much to take out for taxes.
You may not realize a new version of the form was put out in 2020. you could then do the math and adjust your paychecks and taxes accordingly.
You have some other options, as well.
You could use anonline tax calculator.
Additionally, a tax professional may be able to help.
PerFidelity, you could look at investment opportunities or put the money aside for emergencies.
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