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Terry Nelson, CFP®, ChFC®, CASL
Olmsted Financial Group
3428 Lakeridge Pl. N.W., Suite 120
Rochester, MN 55901
Phone: 507-281-1262
Cell: 507-250-3967
Fax: 507-281-9131
Email: Terry@OlmstedFinancialGroup.com
January/February 2026
Time to Review Your Withholdings
As 2026 begins, reviewing your tax withholdings is a critical financial step. Withholdings determine how much income tax is deducted from your paycheck, directly impacting your cash flow and tax refund or liability. Life changes—marriage, a new job, or having children—can shift your tax bracket or eligibility for credits, making last year's settings outdated.
Incorrect withholdings may lead to owing a hefty sum or receiving a large refund, which means you've overpaid and missed investment opportunities. Use the IRS Tax Withholding Estimator to adjust your W-4 form accurately, ensuring your withholdings align with your 2026 financial goals. This tool accounts for income, dependents, and deductions.
Checking early avoids surprises during tax season, optimizes your budget, and ensures compliance with evolving tax laws. Consult your trusted advisors for complex situations to maximize savings and minimize errors.
Securities and Advisory services offered through Geneos Wealth Management, Inc. Member FINRA/SIPC.
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