i have filled for a new W-2 form (W-4). Before my status was single and i claimed 0(zero). Now that I am happily marriend, im gonna need a little less tax taken out. So on my form, i have claimed 1 and selected Married... have i caused myself more tax to be taken out of my paychecks... or should i be seeing more money in my paychecks?
2006-11-20 11:39:52 · 4 answers · asked by kliongv 1 in Business & Finance ➔ Taxes ➔ United States
You will see more money in your paycheck. Single tax rates are higher.
2006-11-20 11:47:31 · answer #1 · answered by highloyo 2 · 1⤊ 0⤋
The more exemptions you take, the less they withhold. Also, married rates are lower than single rates. You should bring home more money now.
2006-11-21 12:28:52 · answer #2 · answered by jkhickey 1 · 0⤊ 0⤋
You should see more money in your check. You are claiming exemption from taxation, so with zero, you pay the full amount. With one exemption, they take less, and you keep more.
2006-11-20 19:48:07 · answer #3 · answered by homeschoolmom 5 · 1⤊ 0⤋
You should have less withheld as a result of your change in status and number of exemptions (allowances). Therefore your pay check net amount should increase.
2006-11-20 19:47:33 · answer #4 · answered by ? 6 · 1⤊ 0⤋