We certainly do not want you to ask for a pay cut nor turn down your next raise. However, there are ways we can reduce our tax liability. There is, however, a positive correlation between your W-4 and the amount of withholding. The amount of federal withholding taxes deducted from your paycheck is indicative of your earnings level, income producing assets that may or may not incur expenses, and the number of withholding allowances that you claim on your W-4 form. How much do you know about taxes? Discuss this question in not less than 200 words