When taking deductions on my W-2 such as one for myself and one for each of my dependents, head of household, etc... How many could I reasonably take, being single with no dependents, that would be offset by my end of year mortgage interest deduction?
I want to maximize my take home pay without ending up owing the government money at the end of the year.
Suggestions?
2007-03-26 11:55:33 · 2 answers · asked by elricsfate 2 in Business & Finance ➔ Taxes ➔ United States
Take your most recent paycheck stub and use the withholding calculator at the IRS website
http://www.irs.gov/individuals/page/0,,id=14806,00.html
2007-03-26 13:31:25 · answer #1 · answered by Anonymous · 1⤊ 0⤋
It would depend on your TOTAL itemized deductions. Fill out the Deductions and Adjustments worksheet on page 2 of the W-4 form.
2007-03-26 21:37:36 · answer #2 · answered by Judy 7 · 1⤊ 0⤋