The W4 Form

[taxwise]

Whenever I start a new job they keep giving me this W4 form to complete. If I have only one social secuirty number why do I have to keep completing this document and what should I be putting on this form? Sometimes I get a small sheet, sometimes I get a little better than a half a sheet of paper and now I've got this whole page to fill out. Any thoughts.

 

[aps45819]

Quit changing jobs and you won't have to keep filling out new W-4s.

I try to keep my witholding down to where I get less than a couple hundred on my refund. Consider it an intrest free loan you're making to the federal government.

 

[taxwise]

My concern was how to properly complete form -- not job changing -- but thanks for the info. And no, the government gets NOTHING free from me.

 

[aps45819]

My concern was how to properly complete form -- not job changing -- but thanks for the info. And no, the government gets NOTHING free from me.

Do you get a tax refund at the end of the year?

 

[taxwise]

No. I sure don't. How about you?

 

[Chasey_Lane]

My concern was how to properly complete form -- not job changing -- but thanks for the info. And no, the government gets NOTHING free from me.

Each employer has to submit their own "W-4" copy with their taxes. Sorry, can't think of the name of the form, but I just ordered some. Anyhow, if you want your employer to w/h the max amount they can, claim single & zero allowances. Otherwise, the more allowances you have, the fewer your Federal w/h rate will be.

 

[taxwise]

Single and Zero -- won't that be really giving up the "free" loan mentioned earlier. Is that what you do? I am so not trying to loan the government my money FREE -- my preference is the breakeven point. But if you are giving away free loans -- can I get one, too?

 

[Larry Gude]

The purpose of the W4...

Whenever I start a new job they keep giving me this W4 form to complete. If I have only one social secuirty number why do I have to keep completing this document and what should I be putting on this form? Sometimes I get a small sheet, sometimes I get a little better than a half a sheet of paper and now I've got this whole page to fill out. Any thoughts.

...is so that your new employer has a document stating what you want your deductions to be.

They have no idea what you want. This covers it.

 

[Chasey_Lane]

Single and Zero -- won't that be really giving up the "free" loan mentioned earlier. Is that what you do? I am so not trying to loan the government my money FREE -- my preference is the breakeven point. But if you are giving away free loans -- can I get one, too?

You're correct. However, some people like that extra $$ in April. Me, personally, well I'm waiting for my bonus on the 17th of this month.

 

[aps45819]

Single and Zero -- won't that be really giving up the "free" loan mentioned earlier. Is that what you do? I am so not trying to loan the government my money FREE -- my preference is the breakeven point. But if you are giving away free loans -- can I get one, too?

Zero deductions will usually get you a refund at the end of the year (i.e. you making the loan) Since I don't know what your financial situation is, can't give advice. However, if you have a job for more than a year, you can submit a new W-4 to adjust your witholding based on how you did the previous year. I had mine at owing $0.99 one year. That was perfect, less than a dollar, you don't have to pay