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I have calculated my taxes this year using TurboTax 2000. That said,
I have determined that I will be getting back approx $3000 this year.

I currently have my status as single with exemptions of 2. My salary
is in the 90K range .I had about 18K in itemized deductions and I
maxed the 401K.

I would rather have this $3000 in my possession rather that Uncle
Sam's. Should I increase my number of allowances by 1 in order to
have less taken out and essentially break "closer to even" next year?
or am I running a risk of owing a chunk by doing so.

Thanks,


I don't know the exact number of additional W-4 exemptions it takes to reduce your withholding tax by $3,000, but that's what you want to do, probably 3 or 4. You only have to withhold the amount of your prior year's actual tax and can then make up the difference in April with no penalty. ed
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