 I'm going to start a internet business do i have to pay taxes? |
| is it required to pay internet business taxes. Because i've been looking and all i've seen is that 13 states make you pay. And texas is not required to make you pay income taxes.... |
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 What is the personal income tax structure in USA? |
| I am coming to USA and say for example if I make US$ 30.00 per hr., What will be my yearly income and how much tax I will have to pay? I will work say 8 Hrs a day with my status in USA on H1B visa.... |
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 I got my tax rebate / stimulus. WTF? |
Where's the rest of the money?
I only got $300 and i'm trying to figurer out why. I made a little more that $10,000 last year(not married, no kids, could not be claimed, blah blah ... |
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 How do i claim income made uder the table? |
| i made some money last year that i din't get a 1099 for because it was made really under the table but i want to slaim it on my taxes do i need to get proof of that income ?... |
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 How much tax will I have to pay back? |
| During the summer I had a contract job that did not take taxes out of our paychecks. I asked a co-worker how much we'd have to file back and his reply was, "I'm just not gonna bother ... |
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 Do I have to have my ex husband's social security number to file my taxes? |
| I went to H&R block and tried to do the online tax preparation, but I can't get by without his social security number. The problem is that I have no way to get his social. I don't talk ... |
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 Previous employor withholding W-2's? |
| My previous employor hasn't sent my W-2's. We had several payroll companies and has all of 2006 W-2's execpt Jan-March. In that time he cut me checks out of his personal account like I ... |
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 What is the maximum amount you and your wife can make and still get that bonus the government gives? |
| I was wondering how much you could make and still qualify for that bonus the government gives out. My wife didn't really make anything this year, less than 3,000 dollars total for the year, and I... |
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 Can I file my 2006 taxes before I receive my W4? |
Additional Details
As mentioned I meant my W2s. Can I file my taxes for 2006 BEFORE I receive my W2?... |
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 Can a disabled relative be claimed on taxes? |
| My brother was born with a severe birth defect called Cloacal Bladder exstrophy. As a result he was given a surgical procedure where his ureturs from his kidneys were tied internally to his ... |
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 What federal tax form do I use if........? |
| I make less than $7,000 a year; I don't own a home or any property; I have NO children (thank God); I'm not married, and I gave money to my local church last year. Is there a special form I... |
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Gwen H | If you are single and receive a substantial return each year, can you legally increase your dependants? |
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 |
 
TaxMan
 |
If you are referring to your W-4 form that you file with your employer, and you are referrring to line 5 "allowances", then yes, you can select any amount. The higher the number the less your refund...or the more you owe. If you end up owing too much, the IRS may charge you interest (often referred to as a penalty). Generally, you have to owe at least $1,000...but often, it is more than that before interest kicks in. And, the interest is only on the amount above a certain threshold...not on the entire amount owed.
So, please feel free to enter a higher amount on line 5. Remember, it doesn't say "dependents", it says, "allowances". It has nothing to do with how many dependents you ultimately claim on your 1040. |
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SG
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As others have said, you can increase your allowances on your W4. You are required to be truthful on you W4...meaning, you must attest that you are entitled to claim that many allowances (and it can be more or less than your exemptions).
Side note: there used to be a rule that required employers to send a W4 to the IRS if it had 10 or more allowances on it. That rule does not exist anymore. |
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Joey M
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You can put anything you want on your W4. However, you must tell the truth when you file. |
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bud68
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What do you mean "increase your dependents"? Do you mean change your withholding? Yes, you can. That won't change the tax you ultimately have to pay. |
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Chris L.
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On your W-4 you may increase your allowances, not your dependents, they are not the same thing. We have a family of 6 (my husband and I plus our 4 children) and we have 9 allowances for our federal W-4, and we still receive a substantial refund each year. If you are claiming single 0 or single 1 you can increase it to perhaps single 3, there is a chart at www.irs.gov that will show you the extra amount that is withheld at various allowances so you can calculate the most accurate number for you to claim. |
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botygy
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Yes |
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Momma
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Well on your w-4s you can but at the end of the year and you have to file you can only put as many dependants as you really have. You have to have their ss number to prove that they are really your dependants. |
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spazicat
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You can increase your allowances (not dependents) on your W-4 to lower your tax withholding, and decrease the refund you keep getting. You can go as high as single and 10 exemptions. You can claim more than 10, but your company would be required to send a copy of the W-4 to the IRS, and no one wants any extra attention from them. If it's the same case with your state withholding, you probably need to change the state form as well. Nice problem to have! |
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So Jersey
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Sure, just have a few more babies. Then its legal. |
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