Message Font: Serif | Sans-Serif
No. of Recommendations: 2
For some reason I always find the W-4 worksheets more complicated than my actual taxes, probably because they give an answer in "exemptions" which are related to nothing. 23 exemptions, what does that really mean? So, instead, I always find it easier, and clearer, to go ahead and calculate my actual taxes (which is what irasmilo did). I like to remind people that you can do this any time of year - you don't have to wait for your W-2, or tax tables from the gov't. You will need to keep track of things, but that ends up saving you time when you go to file anyway. I usually do my taxes at the beginning of the year, at least once in the middle of the year, more if there has been some significant change (being laid off, maternity leave, getting a raise, etc.), and close to the end of the year. I am not recommendeing this for everyone, but it prevents surprises, let's me adjust things as necessary throughout the year, and makes filing my taxes a snap. So just a thought for anyone having trouble with the W-4 worksheets!

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.