View in: Desktop
Copyright @2024 TigerDroppings.com. All rights reserved.
- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Posted by
Message
Claiming dependants 99 for bonus check.
Posted by Me Bite on 12/7/15 at 10:14 pm04
Will I put up a flag to the IRS if I claim 99 dependants for my last check of the year? My bonus is getting added and I want to minimize the taxes taken out. I heard claiming exempt puts up a flag for the IRS. TIA for the info.
This post was edited on 12/7 at 10:35 pm
re: Claiming dependants 99 for bonus check.Posted by LSUSUPERSTAR on 12/8/15 at 7:21 am to Me Bite
More trouble than it is worth unless you are getting a huge chunk of your salary as a bonus. You'll just get it back in a couple of months.
TD SponsorTD Fan
USA
Member since 2001
USA
Member since 2001
Thank you for supporting our sponsors Posted by Site Sponsor to Everyone
Advertisement
re: Claiming dependants 99 for bonus check.Posted by OMapologist on 12/8/15 at 10:01 am to Me Bite
The IRS won't know how many dependents you claim on your W4 unless they request it from your employer. They almost certainly won't do that. Claim 99 or exempt and change it back after and you'll be fine.
The number of exemptions doesn't actually have to match the number of dependents you have but I have no clue whether claiming 99 will raise red flags.
Be aware though that if you don't have enough money withheld you might wind up paying a penalty when you file for underpayment during the calendar year. You can underpay but you can't do it *too* much, so look this up.
Be aware though that if you don't have enough money withheld you might wind up paying a penalty when you file for underpayment during the calendar year. You can underpay but you can't do it *too* much, so look this up.
re: Claiming dependants 99 for bonus check.Posted by 8thyearsenior on 12/8/15 at 1:45 pm to Me Bite
I used to get paid a monthly bonus that was always taxed at about 30%. I changed my dependents from 4 to 15 hoping it would change the rate it was taxed at. It did not. In my experience bonuses are taxed at the 30% rate no matter what. I would speak to someone in HR before you start your creative accounting endeavor to see if it will have the desired effect.
re: Claiming dependants 99 for bonus check.Posted by tigeraddict on 12/8/15 at 2:48 pm to Me Bite
it doesnt matter.
i call HR every december and tell them to take out "x" for both state and federal from my bonus check
i actually withhold less then i should year round and use my bonus check to take out what my taxable liability should be for the year.
in the end the IRS looks at total income and total tax responsibility.
i call HR every december and tell them to take out "x" for both state and federal from my bonus check
i actually withhold less then i should year round and use my bonus check to take out what my taxable liability should be for the year.
in the end the IRS looks at total income and total tax responsibility.
Back to top
Follow TigerDroppings for LSU Football News