Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
Sign in to follow this  
RSTEFAN

form w-4 question to tax accountants

Recommended Posts

i had a friend tell me how he is taking more money home by adjusting your withholdings  - this part was obvious to me

this man is single  - he changed his withholdings from single and claiming 0  to claiming  2 withholdings

but what he is doing next is giving $10.00 for each withholding to the fed.  on his w-4 form ?

 

i have not looked at a w-4 form in a while so i don't know if there is a stop to put this info in.

he said he get interest on the money he gave the fed, and  at the end of the year that offsets his taxes owed?

I have never heard of this?  is this just a waste of time to do - him being delusional or is he on to something ?

 

i could not find anything on this so i thought i would ask someone in the know?

 

i am usually not one the web that often maybe every couple of days

 

Thank you in advance

bob

Share this post


Link to post
Share on other sites

single and zero is the recommended for  single  person making about over 25,000.00.

they might adjust and have more take home pay during the year, but it will catch up when they do their taxes.

  • Upvote 1

Share this post


Link to post
Share on other sites

mmmm,  this sounds kind of what I did when I was single  and  made  a little money , but was still  kind of also broke ! and usually owed at end of year ,  owed  a hundred or so  ,   so I  just  adjusted the  amount  taken out  in the federal withholding ,  if the with holding  is  " say  around 75.oo  from your  gross pay ,  bump it  up too  100.oo  even  ...    and you get  money back at end of year  {  but ----   the fed  isn`t  too keen  on this idea , they seem too think you are using them as a bank   :lol:   not  the other way around , them using us as  a  bank    <_< 

  • Upvote 1

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.