MR

Round about mid year I changed my W4 allowances to allow myself a bigger pay check. When it comes time to file taxes, do I use my original number of allowances or the new number of allowances shown on my W2. I expect to still get a small refund, but the last think I want to do is mess things up. Anyone here know?

scarygirl wrote:Round about mid year I changed my W4 allowances to allow myself a bigger pay check. When it comes time to file taxes, do I use my original number of allowances or the new number of allowances shown on my W2. I expect to still get a small refund, but the last think I want to do is mess things up. Anyone here know?

When you're filing, you use the number of exemptions that applies to you. It has nothing to do with the withholdings you claim on your W4.

scarygirl wrote:Round about mid year I changed my W4 allowances to allow myself a bigger pay check. When it comes time to file taxes, do I use my original number of allowances or the new number of allowances shown on my W2. I expect to still get a small refund, but the last think I want to do is mess things up. Anyone here know?

I'm not an expert, though I do my own taxes each year. I think there is really no connection... The exemptions you claim on your W-4 affect only how much is actually sent to the government ahead of time (so the more you take, the bigger your check, and the bigger chance you will owe).

When you file, you adjust your # of dependents to what they actually are, but they don't necessarily have to match what you put on your W-4. For me, my tax returns started getting bigger and bigger until they were practically obscene, and some bright person asked me if I'd remembered to change my filing status to married from single. I hadn't, so when tax time rolled around and I added those extra dependents (and filed jointly), it made a huge difference.

It was recommended that I change my status to married (and now with a child) to keep more money on my check, but I declined to do so. I'd be more tempted to piss away the extra money... Instead, I'm digging those lump sum refunds each year.

Someone also suggested that I shouldn't do this, because the government doesn't pay me interest on the money they are holding for me. I decided it wasn't that big a deal. Hope this helps!

Rick wrote:

scarygirl wrote:Round about mid year I changed my W4 allowances to allow myself a bigger pay check. When it comes time to file taxes, do I use my original number of allowances or the new number of allowances shown on my W2. I expect to still get a small refund, but the last think I want to do is mess things up. Anyone here know?

When you're filing, you use the number of exemptions that applies to you. It has nothing to do with the withholdings you claim on your W2.

Oh that's right. DUH!!!!!! I'm TUPID. My worry over nothing fried my brain.

scarygirl wrote:

Rick wrote:

scarygirl wrote:Round about mid year I changed my W4 allowances to allow myself a bigger pay check. When it comes time to file taxes, do I use my original number of allowances or the new number of allowances shown on my W2. I expect to still get a small refund, but the last think I want to do is mess things up. Anyone here know?

When you're filing, you use the number of exemptions that applies to you. It has nothing to do with the withholdings you claim on your W2.

Oh that's right. DUH!!!!!! I'm TUPID. My worry over nothing fried my brain.

No biggie.

Thanks gentlelmen.

scarygirl wrote:Thanks gentlelmen.

We're here to serve.

Rick wrote:

scarygirl wrote:Thanks gentlelmen.

We're here to serve.

And we charge less than H&R Block.

Rip Rokken wrote:

Rick wrote:

scarygirl wrote:Thanks gentlelmen.

We're here to serve.

And we charge less than H&R Block.

Yes, you do. Uhm, give me your address, and i'll send you each a dollar. Do you take spare change? I have a neighbor's sofa I have yet to rifle through.

scarygirl wrote:Yes, you do. Uhm, give me your address, and i'll send you each a dollar. Do you take spare change? I have a neighbor's sofa I have yet to rifle through.

<--- Hint, hint! I have my hand out for a reason...

scarygirl wrote:

Rip Rokken wrote:

Rick wrote:

scarygirl wrote:Thanks gentlelmen.

We're here to serve.

And we charge less than H&R Block.

Yes, you do. Uhm, give me your address, and i'll send you each a dollar. Do you take spare change? I have a neighbor's sofa I have yet to rifle through.

It's on the house.