Question:
I live in Virginia. If my gross pay is 3218.00 every two weeks but I only take home 1986.00, how can I increase the amount that I take home each pay period? I think I claim 1. I'd really like to take home as much as possible but wihout paying the IRS at the end of the year.
Answers:
Try claiming yourself if you aren't already, or just find more exemptions. The ony thing that sucks about that though is that you'll get less money back at the end of the year and you rish having to pay in.
increase your exemptions so that you break even
You can cancel your insurance and 401K contributions. Double check your W-4 for the correct tax deductions. Try a mid-summer filing practice, working from your latest paystub and one of the free online softwares.
Claiming more exemptions than you really have can be hazardous to your year-end tax bill.
Most companies allow you to change your W-4 a couple of times during the year, but check with your payroll administrator first.
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