tax deductions

[ski]

I am looking for information on what is the best number to claim for tax purposes. Also, is TurboTax a good way to go for filing?

[bama20]

Re: tax deductions

i too am playing around with the best number to claim for my taxes. i want to claim enough to make sure that i can get the most money each month, but not have to pay uncle sam at tax filing time. i have used turbo tax the past 3 years, and it has been great for me. i have no complaints whatsoever about turbotax.

[sweeps]

Re: tax deductions

Are you referring to the number of exemptions you should claim on your W-4 form?

The IRS Withholding Calculator may help.

[ski]

Re: tax deductions

Yes, exemptions is the word i am looking for!! Thanks Sweeps.
I will check out that website.

[bama20]

Re: tax deductions

yes, sweeps, that is what i was talking about. the exemptions on the w-4.

[PRICEPLUS]

Re: tax deductions

As usual Sweepsplayer comes through!

[bama20]

Re: tax deductions

that is what i used earlier to find out what they suggested we claim, and it came out to 11 dependents for both my wife and i. this many scares me though.

[MarshallMiddle]

Re: tax deductions

Talk to a professional.

[PrincessPerky]

Re: tax deductions

we claim so that DH pays no federal taxes on regualr checks, he still pays on bonus' and overtime, which is more than enough. but as to how we got to that number, it was over several years of constantly getting too big of a return, every year we added a exemption. till we were at zero.

[Elgin526]

Re: tax deductions

To answer the OP's other question, I find Turbo Tax to be a great program! I've filed my taxes (1040 long form) for the past 5 years using it and I'd never do it by hand again! I get the deluxe version so I get the state fileing software (if you need to file for state) and it comes with the program It's Deductable, which helps you figure out all the stuff you can claim for deductions (including calculating household items you donate to charity). You can either e-file right from the software, or print it out and mail it in the old fashioned way.