3/19 My itemized tax return will end up to be about $5000. In fact I've
been getting $4000-$6000 very consistently for the past couple of
years. What's the best way to get less taxed (per month) so that
my yearly return will be near $0? The idea of the government
holding ~$5000 of my money for a whole year is kind of weird.
\_ Increase the number of deductions on your W4. -ausman
\_ I increased it from 2 to 3 and the amount was insignificant,
maybe $500-600 or something? I'm not sure. I'm just not
seeing a big difference. What's up?
\_ Look at the worksheet. It tells you how many to claim
for every xxx dollars in deductions you expect.
\_ I actually claimed '12' in my W4 (yes, you can even go higher if you like)
and that seems to bring it down. Play around with the scenarios, increasing
from 2 to 3 isn't enough - try '6', '7', etc.
\_ I actually claimed '12' in my W4 (yes, you can even go higher
if you like) and that seems to bring it down. Play around with
the scenarios, increasing from 2 to 3 isn't enough - try '6',
'7', etc.
\_ I claim 9 federal/6 state. <--- home owner. |