Quote:
Originally Posted by Gogar
So, I received a check of a nice size last month, for which I (have previously filed) "Single 0" status on the w-4. I was excited because it would have erased all my 'playtime' debt, Porsche parts, etc. and I would have been able to pay off my small business loan 20 months early.
Total witholding?
43%. Federal was 30% of the total witholding. 
Now I know why Hugh is so mad. I'm going to refile my w-4 as "Single-2" for the rest of the year, fck 'em.
Paid off my fun-time debt, so I guess it's not a total anger-fest. |
You have to change your w-4. The IRS has made the deduction higher just this year.
They want to use your money to keep up. Then next year if you have a tax refund coming, you might get an IOU.