 What will you choose for investment (for tax benefit) - Mutual Fund or Fixed Deposit in Bank? |
If you have to invest Rs 50,000 for TAX BENEFIT , what would you choose ? Why?
( you can also show a link where comparison betn the two is drawn up)... |
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 I was susposed to get my income tax refund Friday January 26? |
| When I call the IRS refund hotline it says it was direct deposited On the 26th but Its not showing up in the bank account.My wages are being garnished at work.Is it possible for them to have ... |
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 Ex issue and claiming a child? |
| So my ex and I have a child. We were never married. nor is there an agreement on who claims her when. She lives with me 12 months of the year (he takes her on weekends) and he gives $75/wk for child ... |
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 Husband has not filed Fed. income taxes since 2002? |
| He owed that year, but never filed, did not owe in 2003, did not work in 2004 (nothing to report) and did not file in 2005. I just filed his 2006 return, owing $77, and sent it in w/payment. What ... |
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 Income tax Not married 16yrs old with 6 month old son?? |
| Im 16 and have a 6 month old son i want to know what do i need to claim him on my income tax? how much am i gonna get back? i want to do it wihtout the father getting invovled. please and thank you . ... |
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 How do I temporarily stop withholding from my paycheck? |
| I got a big refund last year and would like to have a little extra cash now. How do I temporarily stop my withholding for 2-3 pay cycles?... |
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 If I (a 22 yr old college student) buy a new computer, can I claim it as a tax write off in 2008? |
I am currently trying to decide if I should upgrade to a new computer. If I buy this new computer and claim myself on my taxes, will it be a write-off for me since I am a college student?
A... |
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 Messed up taxes, should I wait for them to catch it or file amended? |
| We had our taxes done last week and the $$ was direct deposited into our account already. When I got home yesterday there was a w-2 in the mail from unemplyment I received for the month of January ... |
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 Question about my stimulus check? |
| Back in January I did my taxes at H&R Block. I paid my H&R Block services fees with some of my return money. I had the rest of my money deposited into my checking account. According to the ... |
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 My wife filed her taxes as 'head of household' not putting me on the return, am i entitled to half the refund? |
| i didnt work in the u.s. in 2007 my wife only worked for 3 months, but with the child tax credit the amount of the tax return was $3000 +....am i entitled to half the return if i am still married to ... |
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 Why did I get only $300 from this stimulus package? |
I'm 24
Senior year College student
Filed taxes independently--made only $9,000 in '07
I live in my parents home--don't pay rent
I thought i was supposed to ... |
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 Can the IRS hold my tax return money? |
| My husband and I have a back tax bill from a couple of years ago. We have been paying on it. This year (since he has payroll deduction to pay the bill) we filed separately. He had to pay and I am ... |
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spclo23 | How can I get less taxes taken out of my paycheck? |
I make pretty good money, but you wouldn't know it by my paycheck. I get 1/3 taken out of my check for taxes and health care expenses. What can I do, besides buying a house because I can't afford it yet with 1/3 of my paycheck being taken out, to have less taxes taken out? I am a single woman with no kids and own no property. Help me please..... |
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frugernity
|
The tax withholdings depend on:
+ your gross salary
+ any pre-tax deductions (HMO, 401(k), etc)
+ how many exemptions you claim
Things you can do to have less tax withheld:
+ increase pre-tax deductions (e.g. maximize your 401(k) contribution)
+ increase your exemptions claimed. You can claim additional exemptions if you have deductions to support them (e.g. mortgage interest, real estate taxes, etc.) |
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Thrasher
 |
My suggestion would be to file a new W-4 with your employer and if you are filing Single with Zero Exemptions you should change it to one exemption. I would not suggest two exemptions because then you will likely owe taxes at the end of the year. |
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accountant
 |
Below is the IRS Form W-4 that will help you calculate what is right for you to claim. The form is setup so that when answered truthfully, it will have you withholding the properer amount of taxes from your paycheck. You want to come as close to breaking even as possible when you file your taxes. You don't want to owe an if you are getting a large refund, you have just given the IRS an interest free loan for the year. |
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Silly chick
 |
claim more dependants. Claim like 3 or 4 instead of 0 or 1 but you will owe more at tax time and no refund. |
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COLE
|
when you started you filled out a form. It's a "W" form but I can't remember which. You should be able to ask your employer, change the # you claim, You don't need to have children to change that #. But be careful because at tax time you may owe $$
-Good Luck |
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chazohio
 |
ask you employer |
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mizzred
|
up your withholding exemptions |
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butterfliesRfree
|
Become an illegal alien in the United States. They get a job and don't have to have taxes come out -- nor file income taxes. |
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margarita
|
You will just have to pay it all back again at tax time if you don't have it taken out now. |
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Oh Boy!
 |
First, goodday is an idiot. Nearly all employers are required to withhold taxes, regardless of immigration status. How would an illegal immigrant explain to their employer that they don't have to withhold taxes? "Um, boss, I'm an illegal which means you're breaking the law by employing me but the good news is that you don't have to withhold taxes so I get a big tax break."
The real question is how much do you end up paying/owing when it comes time to file your taxes. If you end up getting a bunch of money back each year (probably unlikely given your lack of deductions) then your exemption election is probably too low. Talk to your employer and have them adjust this (increase exemptions). If you end up paying then don't make any changes or you'll end up with an ugly surprise on April 15. |
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Rather Notsay
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Claim more dependants (but be aware that you may end up owing money at the end of the year). |
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Gregory B
|
Increase the number of deductions you are claiming. Your employer will have the form needed.
Remember the amount taken out of your check has no bearing on the amount you will own on April 15th when taxes are due. The amount that is taken from your check represents payments towards that total amount due based on your 1040 tax form you mail to the IRS each year.
If too much is taken from your check.......you get a refund.
If not enough is paid from your pay check....you will owe more.
Look at your last year's tax return. If you received a good sized refund then adjust the amount that is being taken from your pay check. If you had to pay in more, or it was real close, don't make any changes. |
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