Home     Forum     401k     401k Rollovers
    Register   Login   Members   Search   FAQs     Recent Posts    




How to calculate what allowance I should claim on my w-4

Reply to topic
Money Talk > Taxes

Author Thread
littleroc02us
Moderator


Cash: $ 381.25

Posts: 1876
Joined: 09 Feb 2009

How to calculate what allowance I should claim on my w-4  Reply with quote  

So I finished my taxes this year and I got a refund of 1k on Federal and $241 on State. My allowances were 1 for both my wife and I. I don't want a refund so that I can use the money throughout the year and not give the gov't an interest free loan. So I attempted to use the IRS's calculator but it's been down since December 31st. (no shock!) I've tried http://www.hrblock.com/free-tax-tips-calculators/w4/index.html and that didn't give me the answer I'm looking for. Basically it had me put in my gross income, my federal withholding, a date of the paycheck which was weird because I cannot use 2013. Then they wanted the total federal withholding for the year, which I took my fed withholding and times it by 26. So I used 12/30/12 as an example and that gave me a net income that was almost $200 off based on my allowances claimed. If you look at the website there is a slider that you use to look at what your refund and salary would be based on the allowance chose, but that didn't clear anything up for me.

Does anyone have a reputable site I can try that will give me the info I need.

Thanks ya'll

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Wed Feb 06, 2013 5:41 pm
 View user's profile Send private message
clydewolf
Senior Member


Cash: $ 50.25

Posts: 248
Joined: 27 May 2012

 Reply with quote  

http://www.paycheckcity.com/calculator/w4assistant.html;jsessionid=99E7E10D55A527F2381D1BCE24D82616?execution=e1s1
Post Wed Feb 06, 2013 7:07 pm
 View user's profile Send private message
littleroc02us
Moderator


Cash: $ 381.25

Posts: 1876
Joined: 09 Feb 2009

 Reply with quote  

That was a very efficient website, unlike the others I tried. thanx, I'll keep that one in my favorites.

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Wed Feb 06, 2013 8:01 pm
 View user's profile Send private message

Reply to topic
Forum Jump:
Jump to:  
  Display posts from previous:      





Money Talk © 2003-2016