Do Your Withholdings or Estimated Payments Need a Check Up?

Do Your Withholdings or Estimated Payments  Need to Come In for a Check Up?

Do you expect a change in your income? Check (and fix if needed) your 2025 withholding now, using the new-year amounts. Whether it’s a W2 Paycheck, 1099 work or Retirement is changing.   Early in the year is the best time to review what income you will have and what taxes you will anticipate in paying. Don’t wait until next time and get surprised.  Tax planning is essential.

• Know the 2026 standard deduction
  • Married filing jointly/qualifying surviving spouse: $32,200
  • Head of household: $24,150
  • Single or married filing separately: $16,100
  • Additional amounts apply if 65+ or blind is $1,650 for MFJ or $2,050 for single or head of household.  For the next couple of years, we have an additional $6,000 Deduction for seniors (phase outs apply)

• What other credits might you expect?

• Do you need to make 2026 estimated tax payments? You generally must pay estimated tax if you expect to owe at least $1,000 after withholding and refundable credits.  If you plan on selling property, stock or expect any increase in income a projection is probably needed to determine if an additional payment is required so there are no surprises.
• 2026 estimated tax due dates (if needed): April 15, June 16, Sept. 15, and Jan. 15, 2027.

Taking these steps in February helps you spread any needed adjustments over more pay periods, making it easier to hit the safe‑harbor thresholds and avoid penalties next April.

Schedule an appointment and let’s see what 2026 looks like and discover if changes needed?