I live in the state of CA I just think that they are taking too much for taxes. Any suggestions?
2007-01-19 14:47:05 · 6 answers · asked by Marylou 2 in Business & Finance ➔ Taxes ➔ United States
Yes, it depends on what you completed on the W-4 Form supplied to the Employer. Utilize the worksheet on the upper part of the form to determine your exemption withholdings. Or check out Paycheck City... They have a section which helps you calculate what you should withhold.
2007-01-19 14:51:23 · answer #1 · answered by Krazee 3 · 0⤊ 0⤋
Adjust your W4 form exemptions upwards, or consider submitting a W5 form; (advanced earned income credit form), with your employer. This will increase your take home pay, but will decrease your tax refund for 2007. You need to choose, the IRS won't let you have both, it's one or the other. If you don't have the disipline to save during the year, you can go on giving the IRS interest free use of your money, and then get it back at tax time, it is sort of a method of forced savings on your part. Or you can choose to receive it throughout the year instead, and then decide whether to save it or spend it.
2007-01-19 14:58:54 · answer #2 · answered by lepooche 2 · 1⤊ 0⤋
I had two children and financially I would rather pay the taxes then have to raise two children for 18 plus years.
I found out it would be better to pay their board then board them.
Children cost a lot more $$$ then you will get for a tax deduction.
Children tear up all your stuff and they always are wanting something besides the food, clothing, education, medical bills, babysitters, and after you got through with all this aggravation they end up breaking your heart.
How sharper then a serpent's tooth it is to have a thankless child!!complained Shakespeare King Lear.
But you may be the lucky exception so have a few to see if you are the lucky exception..
2007-01-19 14:59:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The State of California as of last year had a much lower tax rate than many other States.
Good Luck & Blessings
2007-01-19 14:51:59 · answer #4 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋
Have you already claimed your child as a dependent/excemption? If so, did you remember to also claim yourself? Excemptions are the leading contributor to the amount of withholding.
2007-01-19 14:50:42 · answer #5 · answered by Another Garcia 5 · 0⤊ 0⤋
Ask your employer for a new w-4 form and increase your deductions.
2007-01-19 14:49:57 · answer #6 · answered by Anonymous · 0⤊ 0⤋