Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Taxes
Finance Discussion Forum

 How can i reduce my tax?
...


 "Where's my Stimulus Payment?" link??
I'm still getting an error each time I check the status of my rebate on the IRS website. My husband and I filed joint with 3 qualifying children back in Jan. We are military so e-filing was free....


 Can you answer this please??
Where are all the taxes that the immigrants haven't got back all this years, Not all of them work for cash, and don't tell me that they claim too many dependents, because if it's like ...


 If i open a business account with my bank is the tax man informed?
or do i have to do that myself
:)...


 We pay taxes for rubbish clearence - would you pay more?
I heard on the radio that the government has given the green light for local councils to start experimenting with charging for charging households for clearing landfill rubbish by weight.

I...


 Tax code 503L?

Additional Details
Thanks for that all, but this is my first job and i have been here 2 years so they are the ones who issued my P60

I dont claim expenses and i'm not ...


 How to be a millioniore in one month??
I want to earn a million dollors in just one month. Will someone guide me to achieve this goal? Please, if you think that this is silly question, ignore it and dont answer. I dont want to see myself ...


 It would cost us $6500 in new taxes if we get legally married. Can we just have a faith based marriage?
She does not make enough to pay taxes, after we are married her income will become taxed. married filing seperate gives no real relief, but if we are only married before god and not to the state we ...


 Add a deduction after taxes have already been filed?
I have already filed my 2006 taxes and have now found further deductions that could possibly get me more than $500 back. Is there something I can do to claim these or am I screwed?...


 What can you earn a year without paying tax?
I know you can earn a certain amount, after that you have to pay tax.
Additional Details
Thank you :D...


 I live in Oregon and I can't afford to pay someone to do my taxes?
And I have never done them before myself. I had a tax preparer do my 2006 but when she was finished I couldn't afford to pay her so she filed an extension for me. I don't know what to do ...


 I owe the IRS around $30,000 and have no money to pay them, what can I do?
they threatened to put a lien on my assets (which I dont have!)...


 How should my wife and I setup our W4 withholdings to minimize paying the IRS at the end of the year?
How should my wife and I setup our W4 withholdings to minimize paying the IRS and avoiding a refund?

For tax year 2006, my wife and I both had "Married +1" on our W4s. Now after ...


 That damn IRS?
Was it me or has anyone else had there income tax check snatched away by creditors....

It really hurts, that was money spent
I'm talkin like $2400,,,,...


 If IRS owes me money can I still file taxes late without filling for extension?
I changed my marital status in FY 2007, but my wife is not in US and she will be coming to US in July. I wanted to know if I can file taxes later in the year (say in July) without actually asking for ...


 I sold home last year, I'm single and owned it for three years - profit from sale was 45k, is that taxable?
Do I have to report the money I made (45k) from the sale of my condo which was my main and only residence when I file my income taxes? I owned it for almost three years and I'm single....


 Would you take?
would you take a 50 cent pay cut per hour if a job was offered to you and it's a 2-3 minute drive from your home.Or continue to take a 30 minute one way ?
Additional Details
dang, I ...


 I work 800 miles away from my house, are my expenses related to working away from home tax deductible?
I am a permanent employee and not a contractor-I fly home frequently and incur additional living expenses....


 Shouldn't H&R block now if you owe back taxes when you file your income taxes?
We filled out our income taxes, was told we would get our income taxes within 1-2 days on that dumb *** card but now we find out that the whole return was taken because of something that happened 2 ...


 How many years do you have to file your tax returns?
I'm scared. I haven't filed tax returns in a long time and was wondering if I could still file them, even though a few years have gone ...



tamu w
WHAT SHOULD I CLAIM ON MY W-4?
I'm single with with 2 kids and one job. No one else can claim me as a dependant. Should I claim myself all year along with my two kids? I am getting conflicting answers. I have claimed myself in the past and have never ended up owing, I always get a nice refund. Please help!!
                     
 




mainecpa
Rating
You have to take a guess. You cannot know the answer until the END of the year when you actually complete your income tax return.

You can CHANGE your withholding any time you want.

When you prepare this year's tax return, use a pay stub to ESTIMATE what next year's return will look like, and make adjustments as necessary.

What if you get a new job, or lose your job, or get a raise?


Radtech1996
I would suggest claiming 0 on your pay for the year....even though you will have less week to week you will get a much larger return at the end of the year. I used to get over $5,000 every year for 6 yrs. It was beautiful!!


dpcarras2007
claim head of household with 2 dependents. This will reduce your tax liability the most.


sunnight721
I am also a single mom with 2 kids. I claim 4. One for me, One for each kid, and One for head of house hold. I have never owed taxes. I make just around 30-44,000 Depending on the year. If I make least I get more back. If I clear the 33,000 mark I get less back at the end of the year because of the EIC , but I get less taken out of each check. So it really depend on you.

I use to just claim 2, and get the bigger refund at the end of the yr until I made over 33,000 and didn't get much back and was told that it would be better to claim more and get less taken out each week because unless I make about 50,000 or more I would not owe taxes.


bigtodda1
insanity


Jeff T
You should try to claim just enough so that you get neither a refund nor owing money.

Single with 2 kids and only one job, the W-4's instructions say you should claim Single-4.

So, I would claim Single-3 and have $50/month direct-deposited into a separate savings account. That way, you get to keep the extra buck or two in interest.

Edit: To Radtech: if you claim the true deductions instead of 0, and have direct-deposited $200/check (assuming you're paid twice a month or every two weeks), you accomplish the same thing, but you keep the interest instead of giving it away.
And if you spend it before it builds up to $5,000, well, it's your money, right?


hrblock.laura
The more you claim on your W-4 the less tax is withheld. There is a worksheet when filling out the W-4 that could give you a better guidance as to how many to claim. Since you have children and are single, you probably are receiving credits that lower your tax making it possible for you to have less tax withheld.

Bottom line, you are the one to determine if you want a nice refund or you want to receive more in your pocket throughout the year. I'm sure the worksheet will help you decide.

Laura H – H&R Block – Senior Tax Advisor 5
**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.


raddy daddy
First it depends on what you make for the year. If you think you will make more than 40,000 dollars, you should claim zero and exempt. If you make less than 40,000 dollars, you can claim yourself twice because you are the only one working and you can claim the children once or maybe twice, depending on other things. So technically you can claim from zero to six. But if you do even claim one, you can't have the exempt. Just depends how much of your money you want to keep and if you want to pay the taxes or get a tax return.


junkfood1
Rating
3


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.024
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy