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danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name: Scott
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Question about Income Tax.
I never changed what I was claiming on my inclome tax after we got married. I am still claiming Single Zero and they take a ton of money out of pay. After getting our taxes done, our accountant advised me to change my statis.
My question is should I change it to married Zero or One? I don't want to end up paying next year either.
TIA Danielle
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Posted 2/28/06 6:07 PM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name: Rebecca
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Re: Question about Income Tax.
DH and I both claim 0 because we like to get a large check once a year. It means we get less in our checks throughout the year, but it was well worth it when we heard what we are getting back this year.
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Posted 2/28/06 6:09 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name: Richard
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Re: Question about Income Tax.
Do married 0.
There are plenty of IRS W4 witholding calculators on the internet.
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Posted 2/28/06 6:12 PM |
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amarto
LIF Adult
Member since 7/05 908 total posts
Name: Allison
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Re: Question about Income Tax.
I also did married, 0.
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Posted 2/28/06 6:23 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: Question about Income Tax.
Change it to married, zero. I know everyone likes getting the big tax refund but from a financial standpoint, it's a bad financial move because you are basically overpaying your taxes. It's like loaning Uncle Sam money for a year without any interest.
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Posted 2/28/06 6:29 PM |
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suvenR
designer mutt
Member since 5/05 4239 total posts
Name:
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Re: Question about Income Tax.
We both kept ours at Single 1
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Posted 2/28/06 6:33 PM |
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danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name: Scott
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Re: Question about Income Tax.
Thanks everyone for the info.
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Posted 2/28/06 6:51 PM |
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LuckySV
LIF Adult
Member since 10/05 4675 total posts
Name:
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Re: Question about Income Tax.
I claim single 3 and DH claims single 1 (i think). We still got a very large refund and we didn't even own our house the entire year. I think I may change to married 3. I don't like the large check at the end. I'd rather invest it at my own discretion.
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Posted 2/28/06 6:54 PM |
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