Well, a new year begins tomorrow. A clean slate begins, and we again start our forced annual tribute to our oppressive masters, the Federal Government of the United States of America. Tax freedom day in 2007 was on April 30th, and it is sure to be later in the year in 2008. For those of you who do not know what Tax Freedom Day is, that is the day you stop paying 100% of your income to the IRS. Every penny that you take in from January 1st to April 30th went to Uncle Sam last year. Tomorrow it starts all over again.
If you are like most people, you allow the government to garnish your wages, and pay your taxes over the entire year, you should look at your withholdings so that you do not give the government too much of your money.
Use this calculator to determine what you should have on file with your company so that you may keep as much of your money that the Government deems you should have.