Tax Brackets For 2021: Are You Withholding Enough?

If you are a W-2 employee, you can change the amount of your Federal withholding at any time to ensure you aren’t hit with a big tax bill when you file your return in April. For anyone who does contract work and receives a 1099-NEC, that income is subject to a 15.3% self-employment tax + Federal withholding. See the table …