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Posted: 4/7/2006 5:19:23 PM EDT
[Last Edit: 4/7/2006 5:53:40 PM EDT by david_g17]
edit: line H on the W-4 says you can claim more exemptions than are added up. - thanks guys!

I'll be getting married in July, and according to the IRS withholding calculator on their site, I have already had more withheld than I will owe at the end of 2006.

I have a W4, and have filled it out, but no where does it ask "How much would you like withheld from your paycheck?"

Help, I need my money!!!!!

thanks!
Link Posted: 4/7/2006 5:20:26 PM EDT
Add exemptions.
Link Posted: 4/7/2006 5:21:20 PM EDT
[Last Edit: 4/7/2006 5:22:10 PM EDT by david_g17]

Originally Posted By MrClean4Hire:
Add exemptions.



that's what my fiancee' said.

can I do that (legally) even if it's not true?

eta: I might qualify for exemption from withholding status, does anyone know much about that?
Link Posted: 4/7/2006 5:21:55 PM EDT
[Last Edit: 4/7/2006 5:22:49 PM EDT by NoVaGator]

Originally Posted By david_g17:

Originally Posted By MrClean4Hire:
Add exemptions.



that's what my fiancee' said.

can I do that even if it's not true?



there's a box for additional $ to be withheld

there's also a worksheet or IRS pub that helps you calculate the amount
Link Posted: 4/7/2006 5:23:04 PM EDT

Originally Posted By NoVaGator:

Originally Posted By david_g17:

Originally Posted By MrClean4Hire:
Add exemptions.



that's what my fiancee' said.

can I do that even if it's not true?



there's a box for additional $ to be withheld



yeah, saw that box; however, I want LESS money withheld... can I put a negative number in that box?
Link Posted: 4/7/2006 5:23:59 PM EDT

Originally Posted By david_g17:

Originally Posted By NoVaGator:

Originally Posted By david_g17:

Originally Posted By MrClean4Hire:
Add exemptions.



that's what my fiancee' said.

can I do that even if it's not true?



there's a box for additional $ to be withheld



yeah, saw that box; however, I want LESS money withheld... can I put a negative number in that box?




Just claim 3 or 4 exemptions and yes it is legal.
Link Posted: 4/7/2006 5:25:17 PM EDT

Originally Posted By david_g17:

Originally Posted By NoVaGator:

Originally Posted By david_g17:

Originally Posted By MrClean4Hire:
Add exemptions.



that's what my fiancee' said.

can I do that even if it's not true?



there's a box for additional $ to be withheld



yeah, saw that box; however, I want LESS money withheld... can I put a negative number in that box?



sorry, I mis-read
Link Posted: 4/7/2006 5:26:30 PM EDT
The exemptions route is the easiest -- just remember that if you get it wrong, you will end up owing money next year.
Link Posted: 4/7/2006 5:26:31 PM EDT
[Last Edit: 4/7/2006 5:27:59 PM EDT by ChrisLe]

Originally Posted By PhilipPeake:
The exemptions route is the easiest -- just remember that if you get it wrong, you will end up owing money next year.



True. You don't want to owe too much at the end of the year. Go to the IRS witholdings calculator here. It will give you a good estimate on how much you should withold from your check.....Once done, fill out the W4 accordingly....
Link Posted: 4/7/2006 5:41:50 PM EDT
Yup, increase your exemptions, I pare mine right down.

The funny part is they actually have a law that says you're supposed to have withheld enough to cover your taxes. Not supposed to pay in April to make it up.

kiss my A@@ to the IRS, no free loans for you. I hate the stupid bastards that claim less exemptions for a "savings" plan. Idiots, just save your own money and have an ounce of self control.

SoS
Link Posted: 4/7/2006 5:43:15 PM EDT
quit?
Link Posted: 4/7/2006 5:48:39 PM EDT
[Last Edit: 4/7/2006 5:50:14 PM EDT by david_g17]

Originally Posted By quijanos:
quit?



lol, problem solved!

"The income tax has made more liars out of the American people than golf.”
-- Will Rogers,

so, should I just claim I have like 10 kids on my W4?
Link Posted: 4/7/2006 5:52:47 PM EDT
a friend of mine claimed 14 every after april so 10 oughta be a shoein
Link Posted: 4/7/2006 5:55:40 PM EDT
I claim 2 for Federal and 1 for State. It works out that I dont get a refund or owe at tax time. I dont like giving the govt a free loan with my $$
Link Posted: 4/7/2006 6:00:17 PM EDT
[Last Edit: 4/7/2006 6:02:49 PM EDT by nightstalker]
The general rule is there is no problem (or penalty) if your underpayment is within 10% of what you owe.

www.wwwebtax.com/payments/penalties_and_interest.htm

See the 6th item down.
Link Posted: 4/7/2006 6:09:21 PM EDT
If you are getting married, and your wife will work, you need more withheld. There is a marriage penalty and your taxes will be higher.

GunLvr
Link Posted: 4/7/2006 6:11:23 PM EDT

Originally Posted By GunLvrPHD:
If you are getting married, and your wife will work, you need more withheld. There is a marriage penalty and your taxes will be higher.

GunLvr



yeah, I've calculated that out as well, but it's a good point.
Link Posted: 4/7/2006 6:17:04 PM EDT
[Last Edit: 4/7/2006 6:17:53 PM EDT by JFP]
just change your w-4 to "exempt" (no with holding will be with held) I do it every year during the month I get a bonus + I work a to of overtime thus making for really fat checks for a week. It helps catch up the bills that accumulated during the previous year
Link Posted: 4/7/2006 6:18:40 PM EDT

Originally Posted By GunLvrPHD:
If you are getting married, and your wife will work, you need more withheld. There is a marriage penalty and your taxes will be higher.

GunLvr


totally worng sir, you ar a bit behind the
Link Posted: 4/7/2006 6:29:09 PM EDT
Link Posted: 4/7/2006 6:39:19 PM EDT
the max is nine.

I knew a guy who claimed 9 for a few years - cause his wife needed mo' money - and the irs ate him alive.

last i heard he was selling knock-off perfume and ass towels in a dance hall
Link Posted: 4/7/2006 6:48:50 PM EDT
The more you hold out ( more exemptions claimed ) the more you will owe at tax time. Just keep that in mind.
Link Posted: 4/7/2006 6:49:04 PM EDT
I upped my exemptions to 4. ( I'm single with no dependants )

I work a tonne of OT taxed at a horrific rate plus the Mortgage deduction.

Come tax time Uncle (SAM) George still owes me a 4 figure refund.
Link Posted: 4/7/2006 7:21:24 PM EDT

Originally Posted By tesnevo:
The more you hold out ( more exemptions claimed ) the more you will owe at tax time. Just keep that in mind.



yeah, true in most cases; however, I have withheld more than enough as of last pay check to last the rest of the year.
Link Posted: 4/7/2006 8:03:15 PM EDT
When I bought my house back in 86, I started claiming single with 7! Over the years, I make adjustments so that I either pay a couple hundred or get back a couple hundred. As pay & taxes have gone up, and mortgage interest deduction has gone down, I'm at single and 3! I may have to go back up to 4 because I just got $700 back from those thieves in D.C.!
Link Posted: 4/7/2006 8:05:39 PM EDT
Quit your job. Go on welfare. They can't take any money away then.
Link Posted: 4/7/2006 8:40:44 PM EDT

Originally Posted By tesnevo: The more you hold out ( more exemptions claimed ) the more you will owe at tax time. Just keep that in mind.
You don't owe anything. That's why the 'gubment has to levy a tax by force of law. They know 'gubment services are so lousy that it's a challenge to get people to pay willingly.

If you don't owe taxes at the end of the year, that means you were STUPID and gave the local/state/federal 'gubment an interest free loan for the previous year. There are also billion$ of unclaimed tax refunds out there.
Link Posted: 4/7/2006 8:59:06 PM EDT
File in all 5 for 8 kids say your catholic, in LA, NY, and MA,CA or NJ. That should net you some seaious scratch, the illegal's do! Dont hate the player hate the game say they were @ HD waiting every a.m(dependents) .....which one?...you forget! Be smart DONT GET MARRIED w/o a written contract!!!!!Fooooo
Link Posted: 4/7/2006 9:40:08 PM EDT

Originally Posted By tesnevo:
The more you hold out ( more exemptions claimed ) the more you will owe at tax time. Just keep that in mind.



So what? Just a percentage of your check into a 4% or so savings account like ING, and then come tax time you pay your taxes and they made you some more money too.
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