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Author: edcosoft Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121592  
Subject: Re: Need an accurate expemtion method Date: 2/7/2000 7:52 AM
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I picked up a couple of good hints from the boards but nothing exactly like what I've got and I
know that you are the people who will know this.

Basically my wife is a part time worker who has no taxes taken out. So at the end of the year I
have to figure out do I file us individually (she usually gets money back but I pay) or joint and
then we pay.

Due to income changes this year I will probably have to file joint for 2000. I keep decreasing
my exemptions and increasing my 401K and I still keep paying.

Now it's not like we're millionairs and I'm not trying to get money back. I'm trying to find the
optimal exemption numbers so that I'm as close to 0 on the old 1040 as possible - nothing lost
nothing gained.

We have all the normal deductions and investments for the "90's".

Any help or hints would be greatly appreciated. If there is more info needed in order to help
please ask.


Go at this from a different direction. Forget about number of exemptions. Withhold a specific amount to pay 100% (see form 2210 if 108.6% applies to you) of last year's tax. It's almost impossible to safely pay 90% of this year's tax because of year end mutual fund dividends, but if your taxes are less than last year, you can underwithhold later in the year to achieve the 90% figure.
If you need it, there's a quarterly installment calculator available at www.edcosoft.com. Ed
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