taxes on pension?

Question

i have a pension of 50000 dollars per year.i get a check for 3500 monthly.my problem is i cannot figure out how to withhold app175 dollars per monthly check fed taxes.it says i must enter a number 0 ,1 ,2 etc.then theres a box if iwant more taken out.how do i utilyze these two procedures to get to 175 fed withholding on my 3500 monthly check

Answer 1

Your best bet is to call to make sure that amount that you want w/held is w/held. There can not be any misunderstandings then.

Answer 2

Each exemption is worth approx $3,200. The number to use will depend upon your other income, deductions and marrital status. Talk to the pension administrator to help you get the correct tax withheld. You didn't mention state w/h. If your state taxes pensions, you will need to withhold for that too.

Answer 3

You could try running different numbers on the calculator at the link below. I think it would apply to pensions as well as wages.

Answer 4

the best thing for you to do is to put the 175dollars in the bank every month and when tax time comes around and you have to pay then take the money out of the bank and pay it why let the government hold your money.