2007-05-25 07:06:17 · 9 answers · asked by shoehumpner 1 in Business & Finance ➔ Taxes ➔ United States
My husband and I both do this. There is not limit to how much tax you can have taken out...Uncle Sam certainly isn't going to complain.
We like to get the big refunds when we do our taxes, that's why we do it...sort of like a present back to ourselves to get something nice at the start of each new year.
2007-05-25 07:17:58 · answer #1 · answered by lotsaroos 3 · 0⤊ 0⤋
You may use any method to determine your income tax withholding (even a formula based on your shoe size and favorite radio station) as long as you pay enough for any of the following:
1. 100% (or 110% if your adjusted gross income was over $150,000 in the prior year) of your taxes for the prior year.
2. 90% of your taxes for the current year.
3. You will owe less than $1,000 with your tax return.)
There is an option you may check that says that although you are married you want taxes withheld at the single rate.
2007-05-25 07:16:59 · answer #2 · answered by garyg7 7 · 0⤊ 0⤋
Yes. On the form W-4 just check the block that says "Married, but withhold at higher single rate".
2007-05-25 07:58:13 · answer #3 · answered by acmeraven 7 · 0⤊ 0⤋
The W-4 even has a place to select "Married withholding at Single rate". The IRS actually has no clue what you put on your W-4. They only get the same information your employer puts on your W-2. Actually, they get their information from a copy of your W-2.
2007-05-25 12:09:11 · answer #4 · answered by STEVEN F 7 · 0⤊ 1⤋
yes, you can withhold as a single person or do it with any number of dependents. that part is just the part that your employer pays to the government. if you list being single, that will change the amount they pay for you... when it is tax time and you have to file, you may have to pay more or less based on the amount already deducted from your check, but you can certainly withhold as you please. good luck.
2007-05-25 07:15:25 · answer #5 · answered by Jeffrey J 2 · 0⤊ 0⤋
Lots of married people do that as well as having an additional set dollar amount taken out so they can hopefully avoid a deficit at the end of the year.
2007-05-25 07:15:10 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yes. Usually on a w4 there is a box that says
Married but withold at a single rate.
2007-05-25 08:09:23 · answer #7 · answered by reciprocityabound 3 · 0⤊ 0⤋
Sure, you can always hold out more than you are required to.
2007-05-25 07:10:22 · answer #8 · answered by ? 7 · 2⤊ 0⤋
Yes you can.
2007-05-25 07:14:20 · answer #9 · answered by Anonymous · 0⤊ 0⤋