Quote:
Originally Posted by paycheck2paycheck
I have always paid in too much and always get a refund which I have always looked forward to but doing the math I see that I could take home just over $400 a month!I understand to do that I have to redo my W4...something about increasing my allowances(dependents?)While I want to increase my take home I don't wish to face next year owing taxes..Can anyone explain how this works?
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It's actually pretty simple. Print out a copy of the
Form W4, then follow the directions in filling it out. If you're single, you are probably taking 0, 1, or 2 exemptions currently--You can find out exactly how many on your most recent pay stub. In line 5, just enter 1 or 2 exemptions above your current level.
Once you have everything filled out, just bring the lower half of the form to your employer's payroll office and they'll process it for you.