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Started By
Message
Tax help: tax withholdings
Posted on 3/23/14 at 11:17 am
Posted on 3/23/14 at 11:17 am
Can someone help with this? I'm filing married filing separately. I need basic info like box 1 do this, box 2 do this... I suck at the tax jargon
I also have this on the money board but that place is slower to respond.
8
Posted on 3/23/14 at 11:21 am to Hu_Flung_Pu
why are you making adjustments to your withholding?
I assume you are inputting your w-2 info. The w-2 should have all this info in boxes 1-6
I assume you are inputting your w-2 info. The w-2 should have all this info in boxes 1-6
This post was edited on 3/23/14 at 11:23 am
Posted on 3/23/14 at 11:24 am to Hu_Flung_Pu
There isn't even close to enough information in your post to even begin answering your question.
Go pay a CPA or other tax professional
Go pay a CPA or other tax professional
Posted on 3/23/14 at 11:24 am to drexyl
quote:
There isn't even close to enough information in your post to even begin answering your question.
Posted on 3/23/14 at 11:30 am to Hu_Flung_Pu
I assume you've taken your allowances and if you want extra withheld or less than automatically computed, you enter this amounts here.
This is useful if you work a second job where you get 1099'd and you can have more withheld from the first job, to cover the tax bite of the 1099.
This is useful if you work a second job where you get 1099'd and you can have more withheld from the first job, to cover the tax bite of the 1099.
Posted on 3/23/14 at 11:32 am to Hu_Flung_Pu
Just have them withhold an extra $750,000 or so..
Posted on 3/23/14 at 12:03 pm to LSUsuperfresh
Sorry if there wasn't enough info. My wife (no pics) and I are trying joint and separately. The withholdings are for community property. This is for income.
Posted on 3/23/14 at 12:08 pm to Hu_Flung_Pu
Just put 288 in each blank
Posted on 3/23/14 at 12:15 pm to Hu_Flung_Pu
See if this helps
It appears that since the income is "community property" in some states, you have to expain who is claiming how much.
Suppose Husband earns 100K and Wife earns 20K
You MAY have Wife claim 50%..thus, she ADDS 40K to her W2 amount. Husband Subtracts 40K from his. Each pays on 60K of income.
It appears that since the income is "community property" in some states, you have to expain who is claiming how much.
Suppose Husband earns 100K and Wife earns 20K
You MAY have Wife claim 50%..thus, she ADDS 40K to her W2 amount. Husband Subtracts 40K from his. Each pays on 60K of income.
This post was edited on 3/23/14 at 12:18 pm
Posted on 3/23/14 at 12:17 pm to Hu_Flung_Pu
You can really screw up if you file separately and one of you take the standard deduction first and the other has a lot of itemized deductions. You have to do the same thing. It very rarely works out that MFS works out better than MFJ.
Posted on 3/23/14 at 12:19 pm to Hu_Flung_Pu
Just use turbotax or something. Why are you putting yourself through this?
Posted on 3/23/14 at 12:30 pm to Hu_Flung_Pu
Go to H&R Block or Jackson Hewitt. You're welcome.
Posted on 3/23/14 at 12:37 pm to Hu_Flung_Pu
the square root of two times your gross adjusted income minus the cubed root of your federal tax paid plus the state number times your number of kids divided by four. or maybe its five. cant remember. just put three fitty
Posted on 3/23/14 at 1:54 pm to dansr731
Or don't go anywhere, open a new browser window, find online tax software and let them walk you through it like you're 5. What OP is trying to do is a piece of cake for tax software. An accountant will be a waste of money.
This post was edited on 3/23/14 at 1:56 pm
Posted on 3/23/14 at 2:10 pm to Smoke7024
quote:
It very rarely works out that MFS works out better than MFJ.
Just letting you know. Just remember if both must either itemize or take the standard.
Otherwise, it's hard to answer your question without seeing your tax documents. Sorry.
This post was edited on 3/23/14 at 2:11 pm
Posted on 3/23/14 at 2:51 pm to siliconvalleytiger
quote:
turbotax
This is from turbotax. From my understanding if I claim idemitized she has to as well. My question is it says federal withholdings and state withholdings. Do I just take what I paid on box 2 (fed income tax withheld) and divide it by two and use that for subtraction? Or take box 1 (wages) and divide that by two and use that for subtraction?
Posted on 3/23/14 at 2:53 pm to Duckie
Exactly. PICS
Of tax documents, that is
Of tax documents, that is
Posted on 3/23/14 at 2:54 pm to siliconvalleytiger
quote:
find online tax software and let them walk you through it like you're 5.
Haha they do until this page then it points me to the irs page. I lost it after that.
Posted on 3/23/14 at 4:47 pm to Hu_Flung_Pu
Are you filing separately for a reason? You will come out better filing jointly if you and your wife are living together. Now if y'all were separated and you were trying to screw her out of money, this would make sense. No way the net return of both of your separate filings will be more than if you do it jointly.
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