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Author: Crosenfield Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121572  
Subject: Re: Reetiree returning to work Date: 8/21/2003 7:03 PM
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When I did this I asked human resources to help me. I worked backwards. For the safe haven to apply, my estimates plus withholding had to equal last year's taxes. Subtract the two estimated tax payments from last years taxes, divide the remainder by the number of pay periods.
Then talk to human resources. To have you take $XXX for federal taxes from each paycheck, how many deductions should I take? They told me. End of problem.
For the following year, I cut back on the number of deductions by a bunch because there wasn't those 2 big estimated tax payments to figure in.
Since this is a retiree returning to work, probably the estimated payments didn't allow for self-employment tax, which now happily the employer will be paying.
Best wishes, Chris
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