Anyone else owe the tax man?

Hey Mike as an employer would you think my employer isn't withholding enough money if I'm claiming married and no withholdings during the year?

Man I could get into a long ordeal about how this can't be right but I won't...


Man I thought contributing to a 401k was supposed to help you out on taxes...

 

my neighbors sell crack!! seriously they do. its not a good investment

 

TAx MAn

Kris,
Tour employer is given a sheet by the IRS that specifies how much tax is with held. This is just an IRS generated average for those filing in your category. The amount of write offs you get to claim against your income also affects this. This is only an estimate by the government so it is not a onesize fits all. Filing married and no dependants on your w-4 probably? The level of your income probaly figures you have a mortgage interest deduction. I would guess you do not believe me this is a large part of this equation. You can request your employer withhold more than the standard tax or change your W-4 to single no dependants. which ever you prefer. Really something you should discuss with a accountant or tax professional. I just tell my single employees to do this than they get a nice bonus check every April.
Mike

 

I must have something messed up then because I own a home (well borrow it from the bank for a small monthly fee) I'm thinking I just missed something on Turbo Tax. : Stupid box...

 

I've always found it weird in the usa that you do your own taxes. Here in the uk, your employer does it all for you and a percentage is deducted from your wages whenevr you get paid. Tax is just something i dont worry about.

 

Did you consult your "people'? or did you consult "box"? i love that commercial......

 

I am getting $3,900.00 back...YES! KOgle, I think they are giving me your tax money rebate!!!
No, seriously, thank goodness for the money as initially I was going to receive just $1,400.00, but after telling them that I should be claiming as head of household, she redid the figures and got her managers approval and they in fact found this to be true instead of the filing singly>so up goes the refund by over $2,000.00!!!!What coral do I want to get next!!!!????
Ka-ching!
LMAO all the way to the bank...oh, that is right, the money is going to be directly deposited into the bank in a week!
I do feel sorry for those that are having to pay however...

 

I agree with you Mike! If you are religious enough and disciplined to save your money each week or over the course of the year, then yes you can earn interest off of the extra money that would have been taken out of your check each week, but many of us are not inclined to do that and thus have to have more money taken out each week, but that often enables us to get a check by the IRS!

 

Yay!!! I am getting back thanks to the apartment building we own....8)

 

Shoot you can make money selling green... haven't you ever watched Blow;D???

Sorry Ogle, just finished my feds and I'm getting a couple K back, guess I will be buying my MH setup here soon!!! WOOHOOO!!!!