When I file my tax at the end of the year, I am sure I'll get a decent chunk back in refund. Instead of getting a refund, how can I go about getting more of my money per paycheck as suppose to paying more during the year and getting it back later. People say doing so is like lending money to the government for free. I just need more cash during the year with the additional expense. Thanks for the advise.information!
2007-05-30 19:01:26 · 2 answers · asked by sws 1 in Business & Finance ➔ Personal Finance
The first thing you will need to do is determine the number of withholding exemptions you can claim. Each exemption reduces the amount of tax that is withheld from your paycheck. Once you know the number of exemptions, you will need to complete a new W-4 form and turn it in at your payroll office or Human Resources department. I have included links to information that will walk you through the process and allow you to complete and print a new W-4 form.
Note that after you submit the new W-4 form, your employer may adjust your withholding exemptions effective with your next paycheck. But they are not legally required to make the change until the first payperiod in the next calendar quarter. As of today (5/31/07) that would be your first payperiod ending on or after July 1, 2007.
2007-05-30 22:24:28 · answer #1 · answered by MoneyMaker 2 · 2⤊ 0⤋
try this. Good luck.
2007-05-31 02:59:27 · answer #2 · answered by TedEx 7 · 1⤊ 0⤋