There's just something about tax paperwork that gets my blood running. Maybe I should have become an accountant. Anyway, a couple weeks ago I used the W-4 withholding calculator and it told me that by the end of the year the federal government will owe me ITS first-born child. I don't really want a large refund, I'd rather have the money now, so I filled out a new W-4 with 3 exemptions instead of 1. Today I checked my online paystub (available 2 days before I get paid at the end of each month) and I am getting a whopping $78 more per month from this!! Yaaaay!
The sad thing is is that that is roughly equivalent to how much more per month I will get when I get my scheduled 3.5% raise in October. Very sad. Hopefully I can bump that percentage up but I kind of doubt it.
Anyway, money! Yaaay!
Wednesday, June 28, 2006
Subscribe to:
Post Comments (Atom)
3 comments:
Make sure you save that extra dough! Thanks for the post...I need to check my withholdings too...
I too need to change my W4. The over pay amount is significant for me. Thanks for the tip
You are so wise. I can't tell you how many people I try to explain this course of action to and they just don't get it. They just love that big refund.
I tell them give me the difference each paycheck and I will refund it to you at tax time .. with interest and I will still make some money for my trouble. They never go for it - either option.
Congratulations! Save it or pay down debt make it work for you.
Post a Comment