taxes
 

 taxes







 

Question by  Robio (24)

How can I make sure I am having enough tax taken out of my paychecks?

I do not want to owe the government come April, but I also do not want them to owe me a great deal.

 
+6

Answer by  Kurt (4579)

You can request the tax calculation sheet that comes with the W4 form. The taxes you owe will be pretty close to the circumstances in your life. If you are single with no dependents, you should claim single and 1 or 0. If you are married and have two children, you should claim married and 4.

 
+6

Answer by  Att4372 (1704)

First, make sure your W4 is filled out correctly - filing status and number of dependents. Each dependent is worth $3650. For each $4,000 in outside income, decrease dependents by 1. For each $4,000 in deduction above the standard, increase dependents by 1. Alternate - estimate total annual income and figure tax. Divide by 52 to get weekly withholding.

 
+5

Answer by  bonnie56 (359)

The IRS has a calculator to determine how much tax should be withheld from you check each pay. The calculator is called the "IRS Withholding Calculator" and is available through their website.

 
+4

Answer by  slkunz2003yahoocom (836)

Check with your payroll office to review your W-4 form. There is a worksheet that asks you questions about dependents and withholding information. A quick review of last year's tax form should show your total tax due. If your situation is similar, same number of exemptions, etc. then aim toward THAT withholding amount. Do the math with your pay stub.

 
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