3/2     I know better than to ask for tax assistance in the motd, but
        I'm a glutton for punishment.  So anyways, like, what is the
        formula btwn the number of allowances I can claim and how much is
        actually withheld (when filling out your W-4)?  How can I determine
        how many allowances I must have in order to have 0 state and fed
        income tax withheld? --sky
        \_ This is one case in which you should NOT CONSULT THE IRS.
           The worksheet that comes w/ the form is WRONG.
           So unless you want to pay $6K at year end, do not use it.
           In normal case,
           if you are single, claim one. If homeowner or married, more
           than that but not on both of your forms.
           Of course, you can get away with claiming 10 like I did one yr
           but chronically owing a large amount of taxes at every year
           end will get you a fat IRS
           "penalty". You can have near $0 withheld if you claim enuf.
           NOTE: some types of income they *must* withheld.
        \_ There should be a worksheet that comes with your W-4 that help
           you calculate the number of allowances you should put down.
        \_ Consult HR, CPA or IRS.
        \_ You can't have nothing withheld.  The IRS will charge you huge
           fines and/or throw your ass in jail for tax evasion.
           \_ I end up geting way over taxed each year because the rate
              i am taxed at assumes I work 12 months at that rate.  But
              I always end up taking 3 or 4 months off a year.  And I am
              too lazy to do my taxes, so the gubbament just keeps my
              cheese.  I would much rather put my money in short term
              treasury bonds and actually get paid interest on the money
              I am loaning to the government rather than piss it away
              in he wind.  -sky
                \_ Btw, sky did you know your interest is taxed also?
                \_ Just think of it as a down payment for the meth rehab
                   and prison housing bills the governement is going to be
                   paying on your behalf in the future.
                   \_  Really?  The government is gonna foot the bill?
                       I've had it all wrong.  These government guys
                       sound prety swell --sky
                        \_ Not exactly.  They're going to whore your pretty boy
                           ass out to the rougher inmates to keep them inline.
                           It's a lot cheaper than buying the other inmates
                           more rec rooms and TV's or hiring more guards.
                \_ It's actually illegal to not file a return, regardless
                   of whether or not you owe additional taxes or have a
                   refund coming.
                        \_ Unless you have no withholding, and less income
                           than the standard deduction/exemptions.
                           \_ Remember the part about knowing better
                              than to take motd tax advice?  Consult
                              your tax advisor or the IRS for reliable
                              information on who must file.  The above
                              is not quite correct.