Charles G
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No chance getting relief of the FICA taxes. They are a straight percentage.
IF YOU QUALIFY, basically if you will owe no federal taxes and/or you owed no federal taxes before withholding last tax year, you can put exempt on your W-4. This may backfire if you actually do owe federal taxes.
California is California, you pay for the privilege of being there. |
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Judy1
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They'll take out social security and medicare no matter how you fill out your W-4. You can affect the income tax withholding with your W-4, but if you don't have enough taken out you'll have to come up with it when you file your return and might also have to pay penalties. |
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bud68
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You cannot avoid Social Security, Medicare and SDI taxes. You can claim extra exemptions to reduce your income tax withholding - but then you'll owe more come tax time. |
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wartz
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Filling out Form W-4 correctly results in correct income tax being withheld. Correct tax may be zero, maybe not. Deliberately overstating the number of allowances you are entitled to is illegal. Attempting to be misclassified as an independent contractor can result in the employer being billed for taxes that should have been paid and is risky business. |
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Sharon T
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It is indeed illegal to claim Exempt unless you qualify (or more allowances than you are entitled to).
Look at the directions for Form W-4 and go through the worksheet. |
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scout 4 u
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you claim exempt on your w-2 but you will pay it back at the end of the year. |
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smartypants909
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You claim Exempt on your w-4. No taxes will be taken out of your paycheck, but you are still required to file taxes at the end of the year, and are responsible to pay any amount owed to the IRS. |
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v b
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And if you bump the withholding allowances, have no tax withheld and then owe more than $1000, the IRS may notice and tell your employer that single/1 or single/2 is all you can claim in the future. |
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Jss
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About the allowances you should claim on W4: http://taxipay.blogspot.com/2008/02/filing-w4-employees-withholding.html |
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Limaris S
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w.e. u find out let me know |
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Michelle S
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Get hired as a contractor instead of a direct employee. Then file a 1099 instead of a w4. |
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