Deleted
Deleted Member
Posts: 0
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Post by Deleted on Dec 17, 2009 10:25:44 GMT -5
Someone correct me if I'm wrong, but I'm of the impression that part of the stimulus package was a reduction in how much money is taken out of your paycheck for federal taxes. That doesn't mean you won't owe the taxes. It just means that you'll have to kick in more money at tax time, money that you've probably already spent stimulating the economy.
"Now he tells me."
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Post by Justin Thyme on Dec 17, 2009 10:32:03 GMT -5
As of right now I am my payroll department and I'm just beginning to get this stuff figured out.
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Post by Warkitty on Dec 17, 2009 10:33:57 GMT -5
*groan*
Now he reminds me...
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frayne
Senior Member
Shortsighted rocket scientist
Posts: 648
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Post by frayne on Dec 17, 2009 12:31:50 GMT -5
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Jay
Senior Forumite
Captain Cupcake
Posts: 5,070
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Post by Jay on Dec 17, 2009 16:32:32 GMT -5
Don't forget to increase your tax withheld for next year.  |
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Police Moderator
Global Moderator
On The Job and Tangled Up In Blue
Posts: 9,821
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Post by Police Moderator on Dec 17, 2009 19:03:36 GMT -5
WTF? So the government can use more of my "extra" money for a whole year for free?
I now try and balance the withholdings to the exact amount of the anticipated tax for this year.
We'll see how accurate my accountant was. ;D
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Post by frayne56 on Dec 17, 2009 20:46:31 GMT -5
All and all PM makes an excellent point in not letting Sam use your money all year long interest free. In most cases it is pretty easy to calculate a person's tax liability but if you low ball too much and owe Sam a bunch you may find yourself making quarterly tax payments the next year, trust me on this.
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Post by Warkitty on Dec 18, 2009 7:48:54 GMT -5
I try to keep it that way, actually. I want 'em to take enough monthly that I dont' have to pay, but I hope to not get a huge refund. A refund, but not a huge one.
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Jay
Senior Forumite
Captain Cupcake
Posts: 5,070
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Post by Jay on Dec 18, 2009 10:35:48 GMT -5
WTF? So the government can use more of my "extra" money for a whole year for free? I agree with you completely. Most people don't think like us though. They'd rather give the government a lot of money throughout the year, and get a big refund next year. It's the only way they can "save." |
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