03-02-2006, 11:51 AM
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#1 |
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Rear Admiral Lower Half
  
Join Date: May 2000
Location: in front of my computer
Posts: 2,503
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question about w4 and allowances
i'm no financial whiz or anything and there are some stuff going on in my life right now that may require some financial juggling.
currently, i only have 1 allowance on my w4. i prefer that they take a lot away per paycheck and get a hefty return in april. but now i may need to increase the # of allowances to get more cash in hand. my question is: how much can i increase the # of allowances by to get the most from each paycheck but still not have to pay in backtaxes in april? |
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03-02-2006, 12:44 PM
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#2 |
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Chief of Naval Operations
 
Join Date: Aug 2002
Location: raising my pimp hand strong
Posts: 13,038
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__________________
70% of the world is covered by water. The rest is covered by Bob Sanders |
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03-02-2006, 01:36 PM
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#3 |
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Lieutenant Commander
 Join Date: Jun 2000
Location: CO
Posts: 690
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The IRS site is great. Why not have the money deposited into a savings account. You getting a hefty return means you loan the government money for free. You are better off owing a hundred than getting a hefty return. JMHO
Last edited by smeakim : 03-02-2006 at 04:47 PM. |
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03-02-2006, 02:27 PM
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#4 | |
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Rear Admiral Lower Half
Join Date: May 2000
Location: in front of my computer
Posts: 2,503
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Quote:
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03-02-2006, 07:46 PM
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#5 | |
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Rear Admiral Lower Half
Join Date: Dec 2000
Location: Yucaipa, CA
Posts: 2,863
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Quote:
is it just you or do you have any other dependents? wife? how much did you get this year? did you owe? I take 2 deductions and it works out almost perfectly.
__________________
 LK was treated unfairly  thanks X |
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03-03-2006, 07:08 AM
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#6 |
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Chief of Naval Operations
Join Date: Aug 2002
Location: raising my pimp hand strong
Posts: 13,038
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heh. i take 9 right now and still get a bunch back.
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03-03-2006, 12:17 PM
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#7 | |
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Rear Admiral Lower Half
Join Date: Dec 2000
Location: Yucaipa, CA
Posts: 2,863
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Quote:
that's nuts! Oh yeah!1 well my effective rate is 2.3% so hah.... |
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