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Financial Planning / Tax Strategies


Subject:  Taxable income and W-2 Date:  9/20/2000  7:56 PM
Author:  RT8888 Number:  40204 of 130012

If I start a new job mid-year, and I don't have income before that, my taxable income should be just from that month to Decemeber 31 right? If that's correct, is it also true that the withholding from each paycheck for tax will be more than I should pay, because the withholding is calulated based on _annual_ salary, and since now I don't earn for a full year worth of money, I shouldn't pay as much?
And if so, can I (I mean if it's legal to)increase the number of allowance on my W-2 on purpose (i.e., more than the result calculated by the worksheet) so that taxes will be withheld less?
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