Do It Yourself Pay Raise?… Really.I.R.S. says that 75% of people get tax refunds annually. What that means is that as the Anti-Washington sentiment grows, and approval congress plummets most Americans let the Government dip way too deeply into their pay checks every pay-day. The average refund can concur up to $3,000 dollars, think about it that’s $250 a month LOL. Doesn’t it make more sense to get your money when you earn it, rather than waiting to file the corresponding year? But there is a solution fix to that problem.
Do It Yourself Pay Raise: Slap A Tax Down!
Try this approach, you can file a new W-4 form with your employer . Most employees fill one out when they get hired and never give it a second thought. And the amount that is withheld from your taxes is based on your income, your filing status, and how many allowances you claim on your W-4.
There is also a worksheet in the instructions that comes with the W-4, and that will focus on how many dependants you have, what your itemize deductions look like, and what kind of tax credit that you deserve.
Do It Yourself Pay Raise: The Kiplinger W-4 Calculating Tool
So the point is to match out how much you’ve taken out of your check every pay-day , with you will actually owe for the year. There are also online tool options that can be applied to determine how many extra allowances, you should claim on your new W-4.
The Kiplinger W-4 Calculator is a great tax tool for this situation, for determining tax balances. If your financial life is pretty similar from ear to ear, then the Kiplinger W-4 Calculator is pretty accurate. It will also calculate how much your pay check will increase, if you follow the estimate advice that it displays to you. Click The Link In Parenthesis After The Semicolon: ( Tax Withholding Calculator – Kiplinger )
And the change in your paycheck is pretty quick, after you have followed the processes after using the Kiplinger Tax Tool option. So that means you will start getting next year’s refund in installment, on the next pay-day check. Hopefully this information can be of some help to people who are looking for a few tax ease solutions.
Do It Yourself Pay Raise?… Really How?
(By: Jaye Irons)
Till Then My Motto: Stay calm, cool, collective, knowing that the only thing that keeps you from making a difference in life is yourself strive for the best!
- TurboTax – Fatten Your Paycheck and Still Get a Tax Refund (turbotax.intuit.com)
- TurboTax – Video: Guide to the W-4 Tax Form Employee’s Withholding Allowance Certificate (turbotax.intuit.com)
- Personal Finance Advice (debtconsolidationusa.com)
- TIGTA: Tax Preparers and IRS Agents May be Stealing Taxpayer Direct Deposit Refunds (taxprof.typepad.com)
- Increase cash flow and save money (bankrate.com)
- Three Red Flags that Get Taxpayers in Trouble with IRS (usdailyreview.com)
- Ten Tips For Military Families (lawprofessors.typepad.com)
- 3 On Your Side: Save Money For Holiday Shopping (philadelphia.cbslocal.com)
- 6 Holiday Gifts You’d Be Better Off Buying Some Other Time Of The Year (consumerist.com)
- TurboTax – How to Spend, Save, or Stretch Your Tax Refund (turbotax.intuit.com)