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west virginia income tax rates 2021 Senate tax plan a bad deal for west virginia

Oh boy, have you seen these tax cut charts for West Virginia? It's like a game of "spot the difference" with your paycheck. But fear not, dear reader, because I have the scoop on how to navigate these confusing tables and maybe even save a few bucks in the process.

First up, the Tax Cuts 2.0 Chart

It may look like a bunch of colorful blocks, but this chart shows the share of pre-tax income that West Virginians at different income levels will receive from the recent tax cuts. The higher your income, the more you'll benefit. Shocking, I know.

Tax cuts chart

But for those of us not in the top 1%, don't despair. There are still ways to make sure you're not overpaying on your taxes.

Next, the West Virginia Withholding Tax Tables

This chart may look like an old-school spreadsheet, but it's actually a valuable tool for figuring out how much money should be withheld from your paycheck. The key is to find your income level and filing status (single, married, etc.) and then match it up with the correct column for your pay frequency.

Withholding tax chart

Now, for the fun part - using this information to save yourself some dough. The trick is to make sure you're not having too much money withheld from each paycheck. If you're getting a big refund every year, that means you've been overpaying on your taxes and basically giving the government an interest-free loan. Not cool, Uncle Sam.

So, take a look at your recent pay stubs and compare them to the withholding tables. If you're having too much taken out each pay period, adjust your W-4 form with your employer. This will ensure that you're paying the correct amount each period and not getting hit with a big bill at the end of the year.

And that's it, folks. Not exactly the most exciting topic, but important nonetheless. Who knew tax charts could be so thrilling?

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