 Do I bring my business credit card bills to my accountant when filing for expense deductions? |
I had recently opened a new business, but I was not sure how to file for expense deductions for taxes. Do I bring my credit card bills? Or how would I present my expenses to my accountant?
A... |
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 What will I have left after tax (Australia) if I get a bonus of...? |
if i get a mid year bonus of AU$2950, and it is not entered into my account with my pay but as a separate lump payment and gets taxed (i have a HECS/Uni debt)..
what will I have left?
A... |
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 Is it worth amending my 2008 tax return? |
| So here's the story...I realized that I didn't include any info from my 1098-T form I got from my university in 2008. I remembered to do it in 2009 and because of one of the new education ... |
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 Is it the end for unemployment benefits? |
| My unemployment beneifts expired today and I am on my 1st extension. I just got the word that the voters did not pass the extension bill to continue with the 4 tiers available. I am in Florida and ... |
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 Why am I not entitled to Working Tax Credits? |
| I am being made redundant in a week (am currently on maternity leave) and I am due to have a baby in 3 weeks. My partner works full time (in a low income job), but HMRC have estimated that I will not ... |
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 IRS still hasn't processed my 1040X yet?!? |
I submitted my 1040X on April 5th. Delivery Confirmation said it was delivered on April 8th. I paid the taxes I owed the next day online.
My tax preparer said it's taking so long ... |
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 Do I have to tell the IRS when I receive e-mail saying I won something, even if I think it is a scam? |
I often return e-mails saying that I have won things, such as foreign lotteries. Most of these are obviously scams.
The IRS says that I must report anything I won and may be required to ... |
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 Is the 'Make Work Pay' tax credit apart of the $8000 tax credit or separate? |
| I just purchased a home May 2010 for $220K. I'm single and filed my taxes in Feb and received a small refund. I'm in the process of filling out the 1040x form but whenever I get to the ... |
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 Notice of assessment? |
| I lost my notice of assessment letter. Is it possible to get one from a CRA office?... |
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 If I filed a K-1 Form with a loss, why does my tax software tell me that I still owe taxes? |
I DJ, so I file a 1099-MISC every year.
This year, my net profit was $6914, and the calculated taxes I owe came out to $-579.
I also participated in an S-Corporation in which I ... |
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 I have an unemployment questions for the state of Kentucky. I am getting laid off from my job? |
| from my job at the end of July. That is certain. My question(s) are...if the company that is coming in and taking over offers me a job, do I have to take it? Or can i still file my unemployment ... |
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 what is the tax at best buy? |
like, im saving 50 dollars to buy a camera at best buy, which is 50 dollars. but i know thats not the exact price. the tax is included. so how much percent of the price do they add?
... |
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 How to pay taxes on Stock.? |
| How do you pay taxes on stock? And when? I'll just give you my particular example. I have recently bought 100 shares in a company on an online brokerage. I plan to reinvest the stocks dividend ... |
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 Is it possible to have the IRS delete a form that you filed this year? |
I filed Form 2555-EZ (Foreign Income Exclusion form) with my 1040 this year.
I now want the IRS to delete Form 2555-EZ. Is this possible for the IRS to remove? (I will, of course, file an ... |
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Jopanoy | Can I file "tax exempt" and have additional holdings withheld on my W-4? |
I currently (and have for 2 years) have my tax witholdings set as exempt and witholding an additional amount on my W-4. I tried to change my W-4 to exempt and witholding a different additional amount and my employer says I can not file exempt and have an additional amount withheld. I told my employer I have been doing this for 2 years without incident and they have not responded back. Simply, am I allowed to file tax exempt and have an additional amount withheld?
Additional Details
Please understand my question. I am not asking if this makes sense. I understand my intent behind what I am doing although others may not. I am wondering if I am allowed to file exempt and also withhold an additional amount? Some may understand my purpose but my purpose is not the intent of the question. Thanks for all who respond. |
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Caveat Emptor
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What you are doing makes no sense. You don't "file" on a W-4 - you just designate withholding. To put "exempt" mean that you are stating that you have no tax liability - so why then withhold tax? If you're single and not the dependent of another taxpayer, just put "single" status and 2 exemptions. If you want an additional dollar amount withheld, you can do that. |
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tro
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I understand that you want a specific amount withheld because you anticipate what your income tax is going to be but what you are doing and have been doing is not legitimate
this has come to head because of a change in the personnel of the pr office, a change in the program being used or perhaps they are outsourcing the pr
either way you cannot do it |
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ninasgramma
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The instructions to Form W-4 state
"If you are exempt, complete only lines 1, 2, 3, 4 and 7 and sign the form."
Line 6 is the line for additional withholding and is not included in the lines you are to complete if you are exempt. |
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Bash Limpbutt's Oozing Cyst©
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Your employer is correct. If there are ANY entries on lines 5 or 6 and you write EXEMPT on line 7 you have filed an invalid W-4. The employer is *supposed* to withhold as if you had filed Single + 0 allowances.
The fact that they have done it in error for 2 years is irrelevant. (Or maybe they've been withholding at Single + 0 all along.)
Read the instructions on Form W-4. To claim EXEMPT you must have had $0 tax liability the prior year AND reasonably expect to have $0 tax liability for the current year. That is CLEARLY not the case if you are asking them to then withhold a set amount on top of the exempt claim.
If you wish to have a set amount withheld from your pay without regard to the withholding tables, which is OK as long as you are aware of the risks, you must claim a large enough number of allowances on line 5 to kill off the withholding and then specify on line 6 how much you want to have withheld. |
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