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CNBC’s Jim Cramer on Thursday named 12 American manufacturers investors should keep an eye on to take advantage of what he calls the country’s “industrial renaissance.”
“If you want companies that make things and sell them at a profit while returning capital to shareholders, look no further than our great American manufacturers,” the “Mad Money” host said.

CNBC’s Jim Cramer on Thursday named 12 American manufacturers investors should keep an eye on to take advantage of what he calls the country’s “industrial renaissance.”
“The United States has been reclaiming its industrial preeminence in sector after sector after sector. It just was obscured by Wall Street’s now-defunct love affair with high-growth tech stocks. Now that we’ve fallen out of love with tech, the industrial renaissance has become the key to picking winners in this market,” the “Mad Money” host said.

“If you want leadership, if you want companies that make things and sell them at a profit while returning capital to shareholders, look no further than our great American manufacturers. Their stocks are fantastic places to be,” he added.
Cramer’s comments come after a tumultuous day in the market — the Dow Jones Industrial Average slid 1.05% on Thursday, while the S&P 500 dropped 1.48%. The tech-heavy Nasdaq Composite tumbled 2.07%.
Here is Cramer’s list of American manufacturers investors should have on their radar:

Tesla
Nucor
Dow 
Chevron
Exxon
GE
Raytheon
Caterpillar 
Deere
Johnson & Johnson
Procter & Gamble
Lam Research

Cramer acquiesced that the semiconductor sector in the U.S could be better.
“I don’t want to slight software, the crown jewel of American economy, but tech companies … they don’t make it here, with the exception of some semiconductor capital equipment plays like Lam Research,” he said. “Otherwise, it’s best to go to Taiwan Semi, where the actual chips are made.”

Disclosure: Cramer’s Charitable Trust owns shares of Chevron and Procter & Gamble.

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Carl Icahn released his letter to McDonald’s shareholders on Thursday, calling out compensation among the company’s top ranks and Wall Street firms for their ESG investing policies.
Icahn is engaged in animal-welfare battles with McDonald’s and Kroger to push them to require U.S. suppliers to move to “crate-free” pork.
In a regulatory filing, McDonald’s said it expected to spend about $16 million in the proxy fight against Icahn.

Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016.
David A. Grogan | CNBC

Carl Icahn released his letter to McDonald’s shareholders on Thursday, calling out compensation among the company’s top ranks and Wall Street firms for their ESG investing policies.
It’s the latest development in Icahn’s animal-welfare battle with the fast-food chain over the treatment of pregnant pigs. The billionaire corporate raider is pushing to add two board seats with nominees who share his belief that McDonald’s should require all its U.S. suppliers move to “crate-free” pork. Icahn is waging a similar battle with Kroger, as well.

Icahn began his letter by challenging asset management firms for what he called “the biggest hypocrisy of our time.” He said large Wall Street firms, banks and lawyers are capitalizing on environment, social and corporate governance investing for the profits without supporting “tangible societal progress.”
“The reality is that if the ESG movement is to be more than a marketing concept and fundraising tool, the massive asset managers who are among McDonald’s’ largest owners must back up their words with actions,” he wrote.
McDonald’s top three shareholders are The Vanguard Group, the asset management arm of State Street, and BlackRock, according to FactSet.
Icahn also called compensation for McDonald’s management “unconscionable” and said the board was condoning multiple forms of injustice.
“Perhaps if the Company’s executives applied the same effort to getting their suppliers to become completely gestation crate-free as they do to obtaining rich compensation packages, we would not be having this election contest,” Icahn wrote.

McDonald’s later Thursday responded to Ichan’s letter citing what it called “hypocrisy” in his own campaign and saying it “only sources approximately 1% of U.S. pork production.”
“Despite McDonald’s progress on our commitment to source from producers who do not use gestational crates for pregnant sows, Mr. Icahn has asked for new commitments,” the company said in a written response. “What Mr. Icahn is demanding from McDonald’s and other companies is completely unfeasible.”
McDonald’s says its U.S. pork supply will be “crate free” by the end of 2024, marking a two-year delay to a 2022 deadline it set a decade ago. The company has blamed the Covid-19 pandemic and African Swine Fever outbreak for the postponement.
Icahn said in his letter that McDonald’s should have prioritized the issue earlier so it could stick to its initial pledge.
The burger chain expects that by the end of this year, 85% to 90% of its pork will come from sows not housed in gestation crates during pregnancy.
McDonald’s said in a regulatory filing that it expected to spend about $16 million in the proxy fight. Icahn questioned even the company’s decision to spend that much money.
“How many pigs would be spared the torture of gestation crates if the $16 million were spent on that, instead of on third parties retained by McDonald’s to solicit your votes ‘for’ re-electing two of 12 Board nominees who have presided over a multi-year failure to achieve the Company’s stated goals in promoting animal welfare in McDonald’s’ supply chain?” he wrote.
McDonald’s shareholders will vote on whether to elect Icahn’s nominees, Leslie Samuelrich and Maisie Ganzler, during the company’s annual meeting on May 26.
Shares of McDonald’s are up 10% over the last 12 months, giving the company a market value of roughly $190 billion.

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Warner Bros. Discovery has decided to shut down CNN+ just weeks after it launched.
CNBC reported last week fewer than 10,000 people were watching CNN+ each day.
CNN+ head Andrew Morse is leaving the company.
Warner Bros. Discovery leaders spoke to hundreds of CNN+ staffers Thursday to explain the decision to shut down the service.

Warner Bros. Discovery is shutting down CNN+ on April 30, just weeks after the stand-alone streaming service launched.
“This is not a decision about quality; we appreciate all of the work, ambition and creativity that went into building CNN+, an organization with terrific talent and compelling programming,” Chris Licht, chairman and CEO of CNN Worldwide, said in a statement Thursday. “But our customers and CNN will be best served with a simpler streaming choice.”

The company also announced CNN+ head Andrew Morse is leaving Warner Bros. Discovery after a transition period. Alex MacCallum, currently CNN+’s general manager and head of product, will lead CNN Digital after Morse departs.

A Jeep Wrangler Rubicon sits on an outdoor track during the press preview of the International Auto Show at the Jacob Javits Convention Center in New York City on April 13, 2022.
Timothy A. Clary | AFP | Getty Images

WarnerMedia launched the stand-alone news service less than a month ago on March 29. It garnered fewer than 10,000 daily active viewers in the two weeks after its launch, CNBC reported last week. The company said customers will receive prorated refunds on subscription fees.
New CNN head Licht has been working behind the scenes with other executives at Warner Bros. Discovery for several weeks to analyze a streaming strategy for CNN, according to a person familiar with the matter. The decision to shut down CNN+ is based on his recommendation, said the person, who asked not to be identified because the discussions were private. Licht’s official start date isn’t until May 1.
Warner Bros. Discovery hasn’t officially outlined its streaming plans and ambitions, but as CNBC has previously reported, the goal is to combine HBO Max and Discovery+ with other programming from WarnerMedia — including potentially live news and sports — and offer all of the content together as a Netflix-competitor.
If the goal is to maximize the number of subscribers for the big bundle, dedicating resources to CNN+, rather than folding that programming into the larger bundle, could be antithetical to the company’s strategy.

Thursday’s all-hands meeting

Licht and Warner Bros. Discovery’s head of global streaming JB Perrette, were among the executives who addressed CNN staffers during an all-hands meeting Thursday, according to people familiar with the meeting.
Licht spoke first, empathizing with staffers that shutting down CNN+ so quickly was “a uniquely s—ty situation,” the people said.
Perrette told employees that once new leadership made the decision that CNN+ didn’t fit strategically into the company’s plans, the most logical move was to shut it down as soon as possible “and not a second longer,” two of the people said.
He also cited previous Discovery launches of niche streaming networks, such as Food Network Kitchen and GolfTV, and said the company has arrived at the conclusion consumers don’t want to pay more money for small services. While Warner Bros. Discovery will take streaming risks, it won’t undertake efforts where it already knows the end result, he said, according to the people familiar with the meeting.
Perrette fielded several questions from staffers about who should be held accountable for the botched launch, they said. Perrette blamed the prior WarnerMedia leadership, who continued to push forward on the product even while knowing Discovery leadership was suspicious of the product’s viability.
The mood among staffers was largely anger and disbelief, two of the people said. CNN+ has more than 600 employees working on shows, the people said. Many of those employees will receive a formal severance notice Friday and will have a chance to reapply for jobs within CNN, according to the people.
In an internal memo, Licht told CNN+ employees they will “continue to be paid and receive benefits for the next 90 days to explore opportunities at CNN, CNN Digital and elsewhere in the Warner Bros. Discovery family. At the end of that period, any departing CNN+ employee will receive a minimum of six-month severance (depending on length of service at CNN).”

The future of CNN+ programming

CNN has already invested hundreds of millions of dollars on new talent and programming for CNN+. Some of that programming will move to HBO Max and other series may live on CNN.com and the free CNN app, according to one person familiar with the changes. Some new talent may assume roles on CNN’s linear station, they said, but Licht will make those determinations in the coming weeks.
On March 29, outgoing WarnerMedia Chief Executive Officer Jason Kilar said in a series of tweets that CNN+ was “as important to the mission of CNN as the linear channel service has been these past 42 years. It would be hard to overstate how important this moment is for CNN.”
One month later, nearly to the day, CNN+ will cease to exist.

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Lululemon is setting lofty goals for growth in the next five years and laying out for analysts exactly how it plans to get there. But not everyone on Wall Street is sold.
Jefferies analyst Randal Konik said Lululemon’s plan “will require an added level of execution prowess.”
Kimberly Greenberger, an analyst at Morgan Stanley, says Lululemon’s financial goals may not be that ambitious — but that’s actually the problem.

A woman jogs past a Lululemon retail store.
Bloomberg | Getty Images

Lululemon is setting lofty goals for growth in the next five years and laying out for analysts exactly how it plans to get there. But not everyone on Wall Street is sold.
Lululemon shares shed 4.8% on Wednesday after the leggings maker announced it’s aiming to double its annual revenue by 2026 to $12.5 billion. The stock was down more than 1% in afternoon trading Thursday. Within its five-year plan, the retailer expects its men’s business to double, its e-commerce sales to double, and its international revenue to quadruple from 2021 levels by 2026.

The company also announced the upcoming debut of a new membership model centered around fitness classes, which could serve as another potential revenue stream outside of its core apparel arm.
At least one analyst is concerned about potential hiccups in Lululemon’s ambitious blueprint given ongoing global supply chain disruption and inflationary pressures that are weighing on consumers. Following a recent ascent in the retailer’s shares, others believe investors could be coming away from Wednesday’s presentation a bit underwhelmed.

Hiccups

Jefferies analyst Randal Konik said in a note to clients Thursday that Lululemon’s plan “will require an added level of execution prowess,” as well as stability in the broader macroeconomic environment, that may be difficult to attain.
Konik has a hold rating on Lululemon shares and a price target of $375. The stock last traded closer to $380.
Konik also said that Lululemon’s recent push into the footwear category could prove to be a poor idea, given all the competition already in the space, and that it could end up weighing on profit margins. (Executives said Wednesday that the launch, starting with women’s running shoes, has been off to a strong start, but didn’t offer specific sales numbers.)

While Konik applauded the company’s new membership offerings as a way to create more loyal customers, he reiterated his concerns around Mirror, the at-home fitness business that Lululemon acquired for $500 million in 2020. Lululemon is folding the workout content on the Mirror platform into its $39-per-month membership plan.
“Our key concern is the slowing of unit sales as consumers return to gyms,” Konik said about Mirror. “We believe Lululemon will have difficulty expanding the installed base going forward.”

‘Scattershot’

Bernstein analyst Aneesha Sherman said she remains cautious, particularly around Lululemon’s ability to elevate gross margins, given the increasing role that international sales will play in the company’s broader strategy.
In the past, Lululemon has expanded overseas in a “scattershot” and pricey way, resulting in unprofitable growth, she wrote in a note to clients.
Lululemon aims to grow its international business so that by 2026, it will be the size that the North America business was in 2020, executives said. And should the men’s category double sales in the next five years as the company’s predicted, it would be larger than its women’s division was just two years ago.
Sherman has an underperform rating on Lululemon, with a $280 price target.
“It’s not that we don’t like the company — with a high-quality product, a super-loyal following and a good management team, it has good fundamentals,” she said. “But the growth trajectory of core products is slowing and the business model was lending itself to zero margin upside.”

Baked in

Kimberly Greenberger, an analyst at Morgan Stanley, says Lululemon’s financial goals may not be that ambitious — but that’s actually the problem.
In a note to clients Thursday, she wrote that Lululemon’s financial objectives appear to be achievable and in line with the high bar that Wall Street has set for the athletic apparel retailer in light of its success relative to other apparel businesses during the coronavirus pandemic.
However, given the run-up in Lululemon shares ahead of Wednesday, she said that investors could be coming away dissatisfied with the 2026 targets.
Lululemon’s stock is up about 25% from a month ago. When the retailer reported its fiscal fourth-quarter earnings results on March 29, it offered a better-than-expected outlook for the current year, which Greenberger said may turn out to be conservative.
For 2022, Lululemon expects revenue of between $7.49 billion and $7.615 billion, with earnings per share in a range of $9.15 to $9.35.
“Most of the long-term targets appeared already baked into Street numbers,” Greenberger said.
Greenberger has an equal weight rating on the shares, with a price target of $339.
Core to Lululemon’s plan will be product innovation, including investing in new gear for activities like golf and hiking, outside of the yoga apparel that it’s best known for.
Chief Executive Calvin McDonald said Wednesday he believes the company is still in the “early innings” of its growth, citing the fact that Lululemon already doubled its sales from 2018 to 2021.
“The opportunity is really to keep doing what we’re doing. It’s working. It’s resonating,” McDonald said.

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The CDC’s advisory committee met on Wednesday to discuss U.S. vaccination strategy ahead of an expected fall wave of infection.
Several committee members said boosting people every four to six months in an effort to prevent Covid infection is not an achievable public health goal.
They said three doses provided sufficient protection against severe illness for healthy adults, indicating that the committee is not ready to recommend fourth doses for the broader population.

Registered Nurse Orlyn Grace (R) administers a COVID-19 booster vaccination to Diane Cowdrey (L) at a COVID-19 vaccination clinic on April 06, 2022 in San Rafael, California.
Justin Sullivan | Getty Images

The CDC’s panel of independent vaccine experts signaled an unwillingness to endorse fourth Covid shots for the broader U.S. population until the agency adopts a clear strategy.
The group, in a five-hour meeting Wednesday, largely agreed that repeatedly deploying boosters to prevent infection isn’t a realistic goal with the current generation of shots.

The CDC’s Advisory Committee on Immunization Practices discussed U.S. vaccination strategy ahead of an expected fall wave of infection. It was the committee’s first meeting since the CDC cleared a fourth Pfizer or Moderna dose for people ages 50 and older in late March, as well as a fifth dose for those 12 and older with weakened immune systems.
Dr. Sarah Long, a committee member, said public health agencies need to abandon the idea that vaccines can prevent Covid infections. She said they should instead let the public know that the main goal is to prevent severe illness, hospitalization and death.

Chasing rainbows

“With the vaccines currently available, we should not chase the rainbows of hoping that those vaccines could prevent infection, transmission and even mild disease because we’ve learned that is just not possible,” said Long, a professor of pediatrics at Drexel University College of Medicine. “We just need to give that up with these vaccines and focus on preventing severe disease and preventing death.”
Long criticized the CDC for clearing fourth shots for older adults without consulting the committee, saying the decision has created public confusion and could lead to booster fatigue. She said having a full public discussion in the committee about vaccine recommendations would help restore public trust.
Pfizer’s and Moderna’s vaccines have proven highly effective at preventing hospitalization from Covid, but protection against infection and mild illness rapidly declines over time, a challenge exacerbated by the swift evolution of the virus. The vaccine makers developed the shots to target the spike protein of the virus that emerged in Wuhan, China, in 2019. The virus uses the spike to invade human cells and as that protein has mutated over the past two years, it has become more difficult for the vaccines to block infections.

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65% effective against mild illness

Data presented by CDC officials on Wednesday showed that three doses of Pfizer’s or Moderna’s shots were 79% effective at preventing hospitalization and 94% effective at preventing critical illness or death among adults with healthy immune systems during the unprecedented wave of omicron infection over the winter. Three doses were about 65% effective at preventing mild illness.
Dr. Beth Bell, director of the National Center for Emerging and Zoonotic Infectious Diseases, said asking people to get booster shots every four to six months is not a sustainable public health strategy. She said such an approach could undermine confidence in the vaccination campaign. Bell said a two-shot primary vaccination series and one booster dose provides sufficient protection right now for people who have healthy immune systems.
“I’m just very concerned about us meeting and considering additional doses for a smaller and smaller return and creating an impression that we don’t have a very effective vaccination program,” said Bell, who is also a clinical professor at the University of Washington’s School of Public Health.
Dr. David Kimberlin with the American Academy of Pediatrics said the CDC should adopt a more long-term vaccination strategy now to avoid having to react to the next crisis. The CDC should clearly communicate that most Americans need three doses initially and will then need a booster once a year to maintain protection against severe illness, Kimberlin said.

Long Covid concerns

However, committee chair Dr. Grace Lee said the U.S. needs to invest in developing vaccines that are effective at preventing infection, pointing out that even mild infections can result in long Covid with potentially debilitating health consequences.
“If we focus in on hospitalization and death in the acute illness, you’re not thinking about the long-term consequences of Covid, and that can occur even in mildly symptomatic individuals,” said Lee, a professor of pediatrics at Stanford University School of Medicine. Lee said missed work or school due to infection is a major challenge, particularly for communities that do not always have easy access to health care.
While three doses may be sufficient for healthy adults, people with compromised immune systems remain vulnerable to severe illness, according to Dr. Camille Kotton, an infectious disease specialist with Massachusetts General Hospital. They are at risk of infection even after full vaccination, boosting and preventative treatment with monoclonal antibodies, Kotton said.
“In some ways they are the ones that are being somewhat left behind in the pandemic,” Kotton said. “I would just ask that we maintain a significant focus on immunocompromised patients,” she said.

FDA meeting

The CDC committee meeting comes after the Food and Drug Administration’s independent advisors met earlier this month to develop framework for selecting new vaccines that target mutations the virus has developed over the course of the pandemic. Public health authorities expect another wave of infection this fall and are worried that a new variant could emerge that undermines the current vaccines.
Dr. Peter Marks, who leads the FDA division responsible for vaccine safety and efficacy, told the drug regulator’s advisory committee that the U.S. has until June at the latest to select a new formula for the vaccines to have them ready for the fall. Marks said waning immunity from the vaccines could leave the U.S. vulnerable to another surge when people move inside during the colder months. The FDA committee members were also skeptical about asking the broader population to repeatedly get boosted until there’s clear data demonstrating that it’s necessary to prevent severe illness.
“I think we’re very much on board and with the idea that we simply can’t be boosting people as frequently as we are,” Marks told the committee. “I’m the first to acknowledge that this additional fourth booster dose that was authorized was a stopgap measure until we got things in place for the potential next booster given the emerging data,” Marks said.

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When people think of what it takes to start a business, words like “struggle” and “stressful” come to mind. But it was rewriting this narrative that allowed me to achieve success as an entrepreneur.
I was always a shy and anxious person. But in 2020, I made an effort to rewire my mindset and started my Excel training side hustle, Miss Excel, by posting a TikTok video of me dancing in front of an Excel sheet.

My passion for teaching people how to use Excel shined through — and by February 2021, I was making enough money to quit my 9-to-5 job and grow my business full-time.
Since leveraging Miss Excel into a software training business, I’ve brought in more than $1 million in revenue. Ninety-five percent of that is in passive income course sales. At one point, I even made $100,000 in sales — in just one day.
Overcoming my fears and making this leap has allowed me to work about 15 hours per week, and spend the rest of my time traveling. Here are five books that helped me get started by boosting my confidence and growing my business mindset:

1. “Dot Com Secrets: The Underground Playbook for Growing Your Company Online With Sales Funnels”

By Russell Brunson
This is a tactical guide to growing a digital sales business. Russell Brunson, founder of software company ClickFunnels, has helped entrepreneurs sell millions of dollars’ worth of products and services.

I used the strategies outlined in his book to build out lead generation techniques and sales funnels that allow my online courses to sell without additional work from me and generate passive income.

2. “You are a Badass: How to Stop Doubting Your Greatness and Start Living an Awesome Life”

By Jen Sincero
Written by success coach Jen Sincero, this book helped me identify my self-limiting beliefs, so I could deconstruct them and build my confidence up enough to run my own business.
The fun bite-sized chapters of relatable stories, sage advice and simple exercises left me feeling motivated and inspired.

3. “Twelve and a Half: Leveraging the Emotional Ingredients Necessary for Business Success”

By Gary Vaynerchuk
With honesty and humility, bestselling author, Resy co-founder, and investor Gary Vaynerchuk maps out the most important skills in business and includes practical tips on how to develop them.
This book is a great starting point for entrepreneurs to identify opportunities for personal growth fueled by deep self-exploration.

4. “Quantum Success: 7 Essential Laws for a Thriving, Joyful, and Prosperous Relationship with Work and Money”

By Christy Whitman
Life coach Christy Whitman shares a 10-step plan for how to establish strong inner relationships with professional contacts, create a culture of appreciation for those in your network, and magnetize future relationships and opportunities.
Applying the principles from this book helped me attract opportunities — from press spots to corporate sponsorships — and grow my business with inbound leads instead of paying for publicity.

5. “Think and Grow Rich”

By Napoleon Hill
This book is an inspirational classic that has sold over 100 million copies. It shares wisdom from more than 500 of America’s most successful individuals, grouped into 13 principles of success.
The case studies in this book gave me the inspiration I needed to chase my dream, while the mindset advice gave me the tools.
Kat Norton teaches Microsoft Excel to individuals, businesses and educational institutions. Since launching Miss Excel in 2020, she has grown her TikTok and Instagram audience to over 1 million followers.
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President Joe Biden will announce a new military aid package to Ukraine, which is expected to look similar to the $800 million in assistance that the U.S. released a week ago.

The package comes as Russia begins an offensive to seize the Donbas region that many analysts believe will be a decisive phase in its unprovoked invasion of Ukraine.
After failing to take Kyiv in a blitzkrieg early in the war, Russia downsized its intent, announcing that it sought only to seize the eastern regions of the country. In recent weeks, Russia has amassed more than 50,000 troops in or near occupied regions of eastern Ukraine.
In order to fend off the Russian assault, Ukrainian troops will need a massive supply of heavy weapons, which the United States is providing in aid packages like the one being announced today.

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If you had a surprise tax bill this filing season, it may be time to adjust your withholdings, financial experts say.
You can use the IRS Tax Withholding Estimator, but complicated situations may need an advisor.
It’s important to revisit withholdings throughout the year, particularly after life changes.

Georgijevic | E+ | Getty Images

If you had a surprise tax bill this filing season, it may be time to adjust your withholdings, financial experts say. 
Whether you’re a W-2 employee or self-employed, the IRS expects an ongoing piece of your income, paid through withholdings or quarterly payments.

As of April 8, nearly 68% of filers for 2021 have received a refund, with an average payment of $3,175, according to the latest IRS data. But if you owed money, there’s still time to make adjustments for next year.
The beginning of the year, particularly after filing your taxes, is a prime opportunity to review your current withholdings, said Or Pikary, a CPA and tax advisor at Mazars, a tax advisory firm in Los Angeles.   
More from Personal Finance:What we learned from the Biden, Harris tax returnsSupreme Court rejects states’ challenge to SALT limitThe average tax refund this year and what you should do with yours
“It’s a tougher pill to swallow at the end of the year when you have a lot more due,” he said.
When starting a new job, you typically complete Form W-4, dictating how much your employer needs to withhold from each paycheck for federal taxes. Many wrongly assume it’s a one-time activity.

Nearly 45% of tax-filing Americans don’t know when they last updated their withholdings, according to a survey from the American Institute of CPAs. 
That may be a problem, since many things can affect how much you need to withhold every year, tax experts say. 
“If certain changes or life events happen throughout the year, it’s up to you to let your employer know about adjusting your tax withholding,” said certified financial planner Philip Herzberg, lead financial advisor at Team Hewins in Miami. 

Top reasons to adjust your withholding:
1. Tax law changes
2. Lifestyle changes like marriage, divorce or children
3. New jobs, side gigs or unemployment
4. Tax deductions and credits shifts

Some of the most common reasons may include family changes such as marriage, divorce or having children. While tying the knot may shift your filing status, children may add a “new set of game-changing tax breaks,” he said.  
Other lifestyle changes, like buying a home, may adjust your situation if you itemize deductions, since you may be able to claim a write-off for mortgage interest, which may possibly result in a lower bill. 
However, starting a side business or a second job may lead to higher levies, Herzberg said, and you may consider increasing the withholding at your primary job to cover the difference. 
You can double-check your withholding with the IRS Tax Withholding Estimator, but it may be better to run projections with an advisor for complex situations.

The tool may be more accurate if used immediately after your last paycheck, Pikary from Mazars said. And you’ll want to share the specifics with your employer’s human resources department to fill out a new Form W-4. Refiling the form must go through HR since it’s a payroll change.

Loans to the IRS

Many Americans may love getting an annual refund. But experts say overpaying throughout the year may be more costly as the economic climate shifts. 
With rising interest rates, earning next to nothing on certificates of deposits and savings accounts may become a thing of the past, said George Gagliardi, a Lexington, Massachusetts-based CFP and financial advisor at Coromandel Wealth Management.
“So why give the IRS an interest-free loan by over-withholding taxes?” he said.

Taxes on retirement income

Whether retirees receive income from Social Security, a pension or retirement accounts, they may also need to consider withholdings or quarterly payments to avoid a surprise bill. However, running a tax projection can be more complicated with multiple sources of income, said Pikary from Mazars. 

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