2007-04-20 02:41:34 · 11 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
you are married.. but you want to government to take out extra money to make sure you don't have to pay anything in at the end of the year.
2007-04-20 02:44:31 · answer #1 · answered by J-Rod on the Radio 4 · 4⤊ 0⤋
A W-4 form is used to figure withholding rates. It has nothing to do with actual taxes you will owe for the year. If you are married, but your spouse make a significant amount of money, your income will be taxed at a higher rate than most people. It would be better to have additional money withheld to make sure you have paid in enough to avoid a tax bill next April, so they give you the option to choose married but withhold at the higher single rate. You can also just choose single, but most people when looking at the form wouldn't choose single if they are married thinking they would get in trouble for saying they are single if married, so the IRS includes the married but withhold at the higher single rate to keep people from owing at the end of the year.
2007-04-20 02:50:02 · answer #2 · answered by Patrick S 3 · 2⤊ 0⤋
If you are single, they take a different amount out of your pay for federal taxes than they do if you are married. But you can choose to have them take withholding taxes out at the single rate even if you are married. Talk to your bookkeeping people about what rate makes sense for you.
2007-04-20 02:44:31 · answer #3 · answered by MOM KNOWS EVERYTHING 7 · 1⤊ 0⤋
Exactly what it says. You're married by want your employer to withhold taxes at the (higher) single rate.
2007-04-20 03:27:14 · answer #4 · answered by Bostonian In MO 7 · 2⤊ 0⤋
What gets taken out of your paycheck for federal withholding is based on whether you are married (less money out) or single (more money out). So if you are married, but want more money taken out of your check (because you end up paying each year), you check the married but at single rate.
2007-04-20 02:50:25 · answer #5 · answered by Carol D 5 · 1⤊ 0⤋
That will give you more withholding for federal income tax. This can be handy for people who have a working spouse or second job.
2007-04-20 04:24:04 · answer #6 · answered by acmeraven 7 · 0⤊ 0⤋
It means our tax code is so complicated and screwed up that the W-4 worksheet often is unreliable in calculating how many exemptions you need. This allows for people who are married and both working to avoid having to pay taxes at the end of the year if they dont itemize and dont have any kids.
2007-04-20 03:09:18 · answer #7 · answered by richkvegas 3 · 0⤊ 1⤋
if you claimed 1 or 0 on your w-4, meaning your employer took more out of your check. I always did this, claim 0, that way even though they took a little more from each check, I always had a nice fat refund coming back
2007-04-20 02:46:10 · answer #8 · answered by Squirrley Temple 7 · 0⤊ 1⤋
I think it means ,you are having more then necessary taken out of your pay .or filing separately .
2007-04-20 05:07:43 · answer #9 · answered by Elaine814 5 · 0⤊ 0⤋
I believe it means if you mark that...even if you are married, when you file your taxes you'll be filing seperately, not a joint one. Make sense?? lol Hope so!
2007-04-20 02:45:02 · answer #10 · answered by Lissa Ann 3 · 0⤊ 4⤋