Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [withholding]

related to the practice, at times required by law, of deducting money upfront before paying the balance. Generally used in the context of taxes.

related to the practice, at times required by law, of deducting money upfront before paying the balance. Generally used in the context of taxes.

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How can I adjust tax withholding so that I don't get a large Tax Refund?

I'm a few years out of college now. I've filled out my W4 accurately and I still get a tax refund every year of a pretty sizable sum. The thing is, I have student loans and I would much rather have been paying that extra money on a monthly basis…
Carlos Bribiescas
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I claim one and my wife claimed zero on our W-4s, but we still owe...why?

I'm getting a head start on this year's income taxes for my wife and I. I have my W-2 already and I have her last paystub for the year. I claimed one exemption on my W-4, and according to her paystub, she claimed zero. We do our taxes married filing…
user52206
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Does owing taxes or getting a tax refund imply my paycheck is off?

A thought crossed my mind recently and I was wondering if someone could explain if I'm missing something, and if so what. Simply put, as an individual filing taxes (single, no dependents), taking the standard deduction, working the same job each…
PawnInGameOfLife
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Can someone withhold $0 in federal income tax?

Is a US citizen allowed to have no federal income tax withheld on their paycheck? Assume that the person has a moderate-income, full-time job, but their child tax credits equaled more than their taxes due in 2020. In other words, if this person had…
nuggethead
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401k and Payroll Deduction - $0 Take Home

I'm trying to dump as much money into my 401k as soon as possible. I have authorized 90% of my gross pay to go to my 401k. The company I work for is making that deduction correctly. My concern is the remaining 10%. My understanding is that federal…
Tom Baxter
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How does tax withholding work for capital gains of selling stock?

I am new in the United States, and before I moved here I did not deal with the concept of tax withholding and capital gains tax. I understand my employer withholds part of my salary to pay taxes, and I have to make sure that the amount that I pay…
user69715
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How do you know how much to withold on your W-4?

My father says that if I need more money, I can withhold less on my W-4 (which won't result in the same oh here's $3,000 come tax return time), but will give us access to more money. So how do I know how much I can withhold without withholding too…
leeand00
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What is the best way to calculate the optimal tax withholding from my paycheck?

My tax refund for this past year (United States) was much higher than I would have liked it to have been. I'm single and have no dependents. My tax refund was about 4% of my salary. Is that normal? Could I claim myself as a dependent? MrChrister…
Ryan
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What has happened to the W4 form for 2020 - paying a lot LESS federal taxes?

I made a mistake on my 2019 W4 form by claiming way too many dependents (10). I don't know how I ended up with this number but it was seriously wrong since I only have 3 dependents. At the time, while claiming 10 dependents (2019), my check's…
JonH
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In the US, how do we make tax withholding less if we lost our job for a few months?

I was out of a job from March to June this year, so I expect to pay less tax and the tax bracket should be lower. However, when I joined a new company in July, and filled out the W4, I couldn't find how I can make it so that less tax is withheld by…
Stefanie Gauss
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How do I calculate net monthly salary (after taxes) in Germany?

If I were to say that my yearly, gross salary was 50,000 euros, then what would be my monthly net after-tax income? For example, this calculator looks OK to me: http://calculatenetsalary.com/calculate-net-salary-in-germany.html ... but I'm not sure…
ant
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My 14 year old Son has won prize money in the EPIC fornite competition - Tax on his winnings?

My 14 year old son born and living in the UK has winnings coming to him from competing in a USA based on-line gaming company (EPIC) international competition (the game is called Fortnite) and he has received an email asking him to complete a tax…
mumdenise
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How is federal tax withholding calculated per paycheck?

I just started at a new company and received my first paycheck. It included a signing bonus, which of course made the paycheck much higher than a normal one will be. The fed withholding amount on the paycheck was much higher than I thought it would…
garettmd
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How much do I withhold for an employee receiving $2000 every two weeks?

I might soon be employing a single person, paying them $2000 every two weeks. How much should I be withholding? Can someone share how to perform these calculations (so in case it changes I can adjust) and what is the final breakdown? This is in…
gruszczy
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Is the return of an IRS withholding taxable?

I am expecting a large check (ca 70k) from the IRS for a withholding of a house we sold back in 2013 (I finally got the ok that I will get the withholding back). (We didn't live in the US anymore and so a withholding was put on it) Now I wonder if…
Sebastian
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