Look at your W2 divide gross income by 52 to get weekly income. Go to the Married table down to the line that has that amount then look at the columns with the number of exemptions you currently claim then one more. Take the difference multiply it by 52 and that's how much your withholding will change.
Not that I can get a better return anywhere else lately.
Ok, I used to work with a guy who had two theories.
One - you didn't have to submit your tax form to the IRS if you didn't owe them any money - you just had to prepare the form by April 15.
Two - money refunded (after an extended period of time) would include interest, and that interest rate was better than what you could get at the bank at the time.
Last I talked to him he had several years worth of returns sealed up in envelopes in a drawer.
Ok, I used to work with a guy who had two theories.
One - you didn't have to submit your tax form to the IRS if you didn't owe them any money - you just had to prepare the form by April 15.
Two - money refunded (after an extended period of time) would include interest, and that interest rate was better than what you could get at the bank at the time.
Last I talked to him he had several years worth of returns sealed up in envelopes in a drawer.
That's how I do it. I calculate how much is going to be withheld from my paycheck during the year then pay estimated tax to cover the difference up to what I paid the year before. This works fairly well for me because my pay (and withholding) from work is predictable but my investment income is not so much so.
Ok, I used to work with a guy who had two theories.
One - you didn't have to submit your tax form to the IRS if you didn't owe them any money - you just had to prepare the form by April 15.
Two - money refunded (after an extended period of time) would include interest, and that interest rate was better than what you could get at the bank at the time.
Last I talked to him he had several years worth of returns sealed up in envelopes in a drawer.
That is what I am looking for. Thanks.
Does this help?
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Not to sound flip back at ya. But was there something on the W4 that you did not understand then? The worksheet is very clear and quite basic for a tax form. There is not a straight answer to your question as your withholdings are based on a formula that takes into account variables such as your salary that it is being applied to. When you were given that answer your response was that you could not understand it and it "gave you a headache", so I was trying to help you by giving you some basic information and then stepping you through the process without trying to make it look like you were clueless. Sorry if I did end up making you feel that way.
To know that you have to figure which bracket contains your highest block of taxable income....e.g, your marginal tax rate.Actually, not too much. I had already found that site.
I over paid by X amount. Each allowance is worth Y. I need to find out what the value of Y is so that I know how many Y's it takes to bring X to zero. Should be a simple matter to find out the value of Y, but apparently not.
