How do I reduce my paycheck withholding?
February 9, 2005
Subject: tax question
Date: Thu, 27 Jan 2005
Since I started a new job a couple of years ago, I've been having too much taken out of my paycheck to cover Federal and state taxes. We're ending up with a big refund. I'd rather the money was in our pockets throughout the year.
Do I change my W-4 to have less income taxes taken out?
Date: Mon, 31 Jan 2005
Yes. There is a worksheet on the form to help you figure the number of exemptions you are entitled to. Watch your withholding after the change to be sure you are at least paying in last year's tax. Consider having a tax advisor help you with this.
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