SOS Bookkeeping

Money is like a child. Given the choice, it'll make a mess and wander off. Make it behave with a budget.
Dave Ramsey

Before you clock OUT today, go to and update your W-4! We’re halfway through the year it’s the perfect time to make sure your withholdings are right. 👌🏽

If you’re a W-2 employee, this is IMPORTANT 🚨. Your W-4 determines how much federal taxes comes out of your check each pay period.

I’ve seen far too many people end up owing the each year or getting way less than expected because this form wasn’t filled out properly.

SO, follow these steps 👇🏼 and make the proper changes NOW.

Step 1: Filing Status Choose Single or Married Filing Separately, or Married Filing Jointly. Tip: Even if you’re married, selecting “Single” increases withholding and can help prevent owing. Don’t select Head of Household unless you truly qualify it can cause too little tax to come out.

Step 2: Multiple Jobs or Spouse Works. Check this if you have more than one job, your spouse works, or you usually owe taxes at the end of the year. It helps your withholding match your actual tax bill.

Step 3: Claiming Dependents. Play it safe. Even if you have two dependents, claiming one or even zero will help make sure you’re not underpaying. If you overpay, it just means a bigger refund.

Step 4: Other Adjustments 4a & 4b: leave blank or put “0” unless you have other income or deductions. 4c: enter an extra dollar amount if you want more withheld each check to cover any shortfall.

If you’re married, BOTH of you need to review your forms. It has to be a team effort to make sure your taxes are right.

As always, consult your tax professional for guidance based on your situation.

Couples who can agree on 4 major issues have a much higher probability of a successful marriage.

- Religion (shared household faith)
- In-laws (boundaries, influence, etc)
- Parenting
- Money

Dave Ramsey

If you're getting a refund, it means you PAID TOO MUCH. That money could have been yours all along. Take some time this year and adjust your withholding amount, so you can KEEP more of your hard-earned money.

If you're ready to take care of your taxes, my team has a great online tax software that's simple, easy to use, and has NO hidden fees. We call it Ramsey SmartTax.

🎯 Check it out: https://ter.li/RS-SmartTax

⚠️ATTN BUSINESS OWNERS & SIDE HUSTLERS⚠️

Starting January 1, 2022 if you receive more than $600 a year on Cash App, Paypal, Venmo, Square, Apple Pay, etc.. you will get a 1099k and it will be recorded as taxable income!
This was passed in March 2021 but many of us over looked it in the American Rescue Plan act.
I suggest you start getting serious now about your business and start tracking every transaction and expense!
They are cracking down and many self employed, side hustling, business owners will have a huge tax wake up call in the coming years.
More in-depth explanation can be found at

What is Form 1099-K? | H&R Block Many taxpayers are stumped by Form 1099-K. Find 1099 k instructions and helpful information in this easy-to-read article from H&R Block.

Working from home? Here’s a great tip in case you need to scan a document. iPhone users: go to “notes” and hit the little camera button. It will ask if you want to scan a document. Lay out the pages you want to scan and it will save them all as a PDF file! So easy!

Do you need a reliable and affordable bookkeeper? Call 225-567-6816

Do you play crazy catch up every year-end to get your books in order for tax season? SOS Bookkeeping can help handle the day-to-day transactions and recording of financial information you need to achieve business success. Call today to get organized! 225-567-6816