oolneo wrote:

- quote -

It's impossible to provide an answer without looking at your
calculations. In addition, we have no idea how much of your
refund was NYS vs Fed.

My best advice, is to just play with the ADP calculator
until you get the answer you want. I.e., the number of
allowance you enter gves you the right amount of
withholding!

--
Alan
http://taxtopics.net

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coolneo[at]yahoo.com (coolneo) writes:

- quote -

One withholding allowance reduces the amount of wages
subject to withholding by $3100. Therefore, claiming
an additional withholding allowance will reduce the
tax withhold over the course of an entire year by
$775 (assuming you are in the 25% bracket). $775
divided by 12 is $65

So claiming an additional withholding allowance will
increase your take-home pay by $65 a month. Claiming
two would increase your take-home pay by $130 a month.

[If you are subject to a state income tax, the increase
in take-home will be slightly higher because a bit less
state tax will be taken out as well].

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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I got about $8000 back last year (state (ny) and fed).......
whoopie. I will probably get the same this year. Next year I
would rather have the money up front.

So, I got the w-4 form and went through the personl,
itemized, and two-earner worksheets can came up with 4
allowances.

Went to the the fancy payroll calculator on adp.com or
paycheckcity.com and whala my take home went up by $144. I
may be dumb, but 144 times 12 is not $8000.

How much tax consultants charge these days? This is really
confusing.

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