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As we begin the final quarter of an unpredictable 2020, remember to take a few minutes to double check that your withholdings are in the right place before the end of the year. Now is the time to compare your withholdings to your gross income for the year to make sure that you are having enough withheld to cover taxes owed.

As of now, the furlough of payroll taxes will have to be repaid next year, so plan accordingly. Also remember that if you received any unemployment from the State of Montana, that income IS considered taxable. The State of Montana might not have withheld enough to cover both federal and state taxes when they released it to you.

Give our office a call at 406.697.6823 for a snapshot review of your withholdings.