Taxes Comeing in
Then you might be doing something right.
I always claimed the most exemptions I could on my withholding so they took out less.
That money ,put in my savings account, made more interest for me than letting the government hold on to it all year for nothing.
Sure,savings accounts don't pay much of anything in interest,but it's more than what the gov pays,which is nothing.
Let's say you claim 0 exemptions on your employer withholding. They take out the most tax , making your paycheck smaller , but you get a big return when you file. Say $1000.
Instead , claim 3 exemptions on withholding and take a few extra bucks and throw it in a savings or interest bearing checking account. You may only make $10 0r $20 on interest , but that's $ more than what the gov pays you for holding/using your money over the year.
I always claimed the most exemptions I could on my withholding so they took out less.
That money ,put in my savings account, made more interest for me than letting the government hold on to it all year for nothing.
Sure,savings accounts don't pay much of anything in interest,but it's more than what the gov pays,which is nothing.
Let's say you claim 0 exemptions on your employer withholding. They take out the most tax , making your paycheck smaller , but you get a big return when you file. Say $1000.
Instead , claim 3 exemptions on withholding and take a few extra bucks and throw it in a savings or interest bearing checking account. You may only make $10 0r $20 on interest , but that's $ more than what the gov pays you for holding/using your money over the year.
Member
Joined: Jul 2010
Posts: 118
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From: Hunlock Creek, PA
Im gonna put my truck through a little cancer treatment. I plan on removing the rust at the bottom of my passenger rear door and painting the bottom half of the truck with Herculiner.
Ps. so i dont have to fuss with the body work as much and i love the stuff. i will post some pics when im done
Ps. so i dont have to fuss with the body work as much and i love the stuff. i will post some pics when im done
Member
Joined: Oct 2011
Posts: 158
Likes: 0
From: Lexington,KY
I filed electronically on Jan. 16.Should have got it back before the 25th.but still haven't got the check.Apparently the gubment said there were setbacks for people who filed between the 17th and 25th due to implementing a new system or something.Good thing I wasn't desperate.I'm getting a set of MT Ultra Classic2's.The rest is going in the bank......or maybe a black,low profile toolbox and a 10' sealed sub and 4 channel amp too.
I filed electronically on Jan. 16.Should have got it back before the 25th.but still haven't got the check.Apparently the gubment said there were setbacks for people who filed between the 17th and 25th due to implementing a new system or something.Good thing I wasn't desperate.I'm getting a set of MT Ultra Classic2's.The rest is going in the bank......or maybe a black,low profile toolbox and a 10' sealed sub and 4 channel amp too.
x2
Time to change your W-4 withholding form so you don’t have them take out so much each pay period! No reason to have them hold onto that much of your money interest free all year.
Time to change your W-4 withholding form so you don’t have them take out so much each pay period! No reason to have them hold onto that much of your money interest free all year.
Member
Joined: Oct 2011
Posts: 158
Likes: 0
From: Lexington,KY
Yes I know.I've had this job for 10 years.Back then I wasn't good at saving money so on my W4 where it asks"What additional amount,if any do you want with held from each paycheck?"I put twenty dollars,also partially because the previous year I had to pay.So that accounts for 1080. of it............Yeah I guess I should.
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For Sale: 35" Pro Comp A/T - Save taxes - ON.
araujomike
OLD - Suspension, Tires, & Wheels
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Mar 8, 2012 10:33 PM
