Jkloc420
Do you need an air compressor or tire gauge
yea
scooby0048
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IRS must love you when it comes time to pay the bill.
Wontmake9.5
My job is fun
I put 7 on mine. I break even every year. I tell my tax guy I don’t want to pay any and he tells me what my responsibility is for the year after a child credit etc.. it is easier for me to save when I have more coming in weekly then get a refund check...
Overpaid Union Thug
Well-Known Member
I started using the withholding calculator (don’t want to pay a tax man) years back and figured out what my magic number was. I still use it every year just to be sure. I always subtract one just to be safe. Screw getting a “refund”. That’s an interest free loan to an entity that sucks at managing money. I put the money most people get back from overpaying into my 401k every year. I laugh at people that need the government to hold their money for them interest free so that they’ll have it to spend the following year. LOL
Wontmake9.5
My job is fun
We have been using our cpa for 5-6yrs now and he has helped me a lot so I just go to him to support him since he is a one man show basically. But I definitely agree, I laugh at people that can’t wait to get a refund so
They can pay a credit card off or pay bills lol. It’s even easier now since I have a 2yr old so automatically I have a 2k credit going into the year. Last few years I have literally just broke even and since the wife is a stay at home with the little one it helps to have more money coming in weekly then worry about a “refund” like you said.
Bit for some people if they had an extra $20-$30 in every paycheck, it would be gone.
Wontmake9.5
My job is fun
Trueeeeeee. I think I am just able to save because I don’t drink HA! All my co workers buy a 6pack or more on the way home and I haven’t touched alcohol in about 5yrs so it saves me a lot too lol
Everyone has vices
GenericUsername
Well-Known Member
I like the return money, personally. The $20-30 extra each check would easily be spent without even thinking about it as it could be gas money, a toy for my kid, etc. We're using the return money this year for a new mower and part of a down payment on her car.
Wontmake9.5
My job is fun
Dr Pepper is mine
Expensive sugary drinks with no alcohol..
Overpaid Union Thug
Well-Known Member
It’s all about self control. But in lieu of self control the govt is still not a wise vehicle in which to save money.
Overpaid Union Thug
Well-Known Member
Guns and ammo here. Oh wait.....that’s not a vise. So I digress.
Overpaid Union Thug
Well-Known Member
I also can’t stand the fact that the fed likely spends three times (at least) against the money they end up “refunding.”
Overpaid Union Thug
Well-Known Member
PT Car Washer
Banned
Buying lottery tickets. I am always amazed at how much money people throw away buying lottery tickets.
Dang it. I’m usually aware of stuff like this before it creeps up on me
thanks for the post here
I used to have two or three withhildings trying to zero myself out.
The ups w4 withholding page is updated. It says allowances are no longer used to ensure accuracy. lol. There’s less info and boxes available. I was able to use a withholding tax chart to perfectly calculate my number. Now they don’t really give me an option
———-
Helpful Hint:By completing only Steps 1 and 5, your 2020 withholdings will be equivalent to filing Single-2 (two allowances) under the old method for Single and Married Filing Separately filers. It will be equivalent for Married-3 (three allowances) under the old method for Married Filing Jointly filers. If Single-2 or Married-3 would result in too little being withheld, select 'yes' in Step 2. This will result in the equivalent of Single-0 (no allowances) or Married-0 (no allowances) being withheld under the old method.
——-
this is no more helpful than the old method. What a disaster.
Thanks for the heads up
it’s not gonna be so easy to go from zero to 2, and back to 3, or 4 on the fly anymore. Maybe that was their plan.
thanks for the post here
I used to have two or three withhildings trying to zero myself out.
The ups w4 withholding page is updated. It says allowances are no longer used to ensure accuracy. lol. There’s less info and boxes available. I was able to use a withholding tax chart to perfectly calculate my number. Now they don’t really give me an option
———-
Helpful Hint:By completing only Steps 1 and 5, your 2020 withholdings will be equivalent to filing Single-2 (two allowances) under the old method for Single and Married Filing Separately filers. It will be equivalent for Married-3 (three allowances) under the old method for Married Filing Jointly filers. If Single-2 or Married-3 would result in too little being withheld, select 'yes' in Step 2. This will result in the equivalent of Single-0 (no allowances) or Married-0 (no allowances) being withheld under the old method.
——-
this is no more helpful than the old method. What a disaster.
Thanks for the heads up
it’s not gonna be so easy to go from zero to 2, and back to 3, or 4 on the fly anymore. Maybe that was their plan.
no_map_needed
Knowledge is key, Experience is power.
My savings goes up about 10k every year around tax time.
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And it's usually people they can't afford to lose that money.
