Posted on 11/02/2013 11:15:27 AM PDT by Ghost of SVR4
Hello all... Any chance I can get some tax / income savvy freepers to weigh in? New job, first pay. No exemptions are showing up on my pay stub (I took it in the kiester this pay with Federal Withholding). I have three kids who live with me full time. I have a soon to be x-spouse and we are NOT filing jointly. I am in the 28% tax bracket. Is there a (relatively) easy site I can calculate what I should be getting paid? My last job's with holding was CONSIDERABLY less. My new HR rep's merely have heartbeats for their qualifications so I need to do some homework.
Thanks all...
adp.com
They have calculators - now toward the bottom of the home page. I use them whenever something changes for hubby / son’s checks.
If there are kids involved, be careful if you choose to claim them . . . if the mother does, prepare for a world of hurt.
Uh, no.... You claim every exemption you are entitled to, to maximize your take-home pay...
Exactly! Good for you.
Mother cannot. They live with me full time and that is easily verified. Thanks for the reply..
Thanks for the link, going to check it out..
I plan to do that in 2014 actually. For now, I am still working the Ramsey plan to cut away more debt that is pressing so I can afford an accountant! :)
Hum, no. Claiming zero exemptions on your W-4 will result in the most amount of federal taxes being withheld. The more withholding exemptions you claim on your W-4, the less amount of tax is withheld.
1rudeboy is confused as usual. zero exemptions will maximize your tax withholdings, not your take-home. The more exemptions you claim the less tax withheld and the higher your take home.
You can download a W4 form and use the worksheet to help calculate how many exemptions you should claim.
However, the advice posted earlier about the ex is valid. In the absence of a legal agreement on how to split the tax credits, the person who gets to claim them is who the kids live with more than 50% of the time. And that needs to be documented.
Although the divorce will make things more complicated, I would just take last year's tax forms, and plug in the new pay numbers to get a decent estimate for this year's and next year's taxes. The brackets really didn't change much between years.
Be careful. The mom walks into Jackson-Hewitt (does it still exist?) and the schlub tells her she can. You get caught in the crossfire.
Oops, got that wrong . . . I meant the opposite.
That comment screams, "internet butthurt."
Believe it or not, I actually did that for giggles about a decade ago as well. I didn’t need the help, it was more to prove a point to some people I was having a debate with offline. I called local, next state over and a different coast. Three different accent’s, three different answers, three different codes cited (along with the litany of forms I would have to fill out). The IRS doesn’t even know their own code as it is today, but we are supposed to OR ELSE.
Not sure if serious, but that's backwards. Claiming zero exemptions means your taxable wage isn't reduced before the withholding is calculated. Therefore claiming zero INCREASES your taxes withheld, reducing your take-home pay but likely resulting in a refund.
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