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Wedding Forums > Brides Helping Brides ™ > Homeowners... when u changed your deductions on your pay check...
Homeowners... when u changed your deductions on your pay check...
princess99 Posted: Nov 12, 2004 01:56 PM+
princess99 MEMBER SINCE: 7/02 TOTAL POSTS : 2937 WEDDING DATE: Mar 28, 2004
Posted: Nov 12, 2004 01:56 PM bride-minus.png

Homeowners... when u changed your deductions on your pay check...

We changed from 2 to 5 deductions... how much about do u think the paycheck would go up? Is there a site online to figure it out?
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StepherG Posted: Nov 12, 2004 01:58 PM+
StepherG MEMBER SINCE: 7/03 TOTAL POSTS : 1940 WEDDING DATE: Aug 01, 2004
Posted: Nov 12, 2004 01:58 PM bride-minus.png

Re: Homeowners... when u changed your deductions on your pay check...

Not sure. I never changed my deductions with homeownership. Is that something people usually do? I am out of the 'loop'
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ChristineC68 Posted: Nov 12, 2004 01:59 PM+
ChristineC68 MEMBER SINCE: 5/01 TOTAL POSTS : 12170 WEDDING DATE: Sep 21, 2002
Posted: Nov 12, 2004 01:59 PM bride-minus.png

Re: Homeowners... when u changed your deductions on your pay check...

Look for withholding tables at IRS and NYS
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kptoys Posted: Nov 12, 2004 02:25 PM+
kptoys MEMBER SINCE: 11/02 TOTAL POSTS : 7696 WEDDING DATE: May 22, 2004
Posted: Nov 12, 2004 02:25 PM bride-minus.png

Re: Homeowners... when u changed your deductions on your pay check...

Although you have your house as a deduction arent you going to owe more at the end of the year because you arent paying in enough during the year?
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DjPiLL Posted: Nov 12, 2004 02:45 PM+
DjPiLL MEMBER SINCE: 4/04 TOTAL POSTS : 4198 WEDDING DATE: May 28, 2005
Posted: Nov 12, 2004 02:45 PM bride-minus.png

Re: Homeowners... when u changed your deductions on your pay check...

The number of deductions just tell the payroll people how much tax to take out. Its not like you deduct 1 if you have a co-op. 2 if you have a house.

Its not set like that. There are calculators that punch this stuff in for you.
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Crisco718 Posted: Nov 12, 2004 04:24 PM+
Crisco718 MEMBER SINCE: 5/02 TOTAL POSTS : 669 WEDDING DATE: Mar 15, 2003
Posted: Nov 12, 2004 04:24 PM bride-minus.png

Re: Homeowners... when u changed your deductions on your pay check...

www.turbotax.com

This website has a few tax calculators. There is also a paycheck estimator that can estimate your take home pay.
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StepherG Posted: Nov 12, 2004 04:52 PM+
StepherG MEMBER SINCE: 7/03 TOTAL POSTS : 1940 WEDDING DATE: Aug 01, 2004
Posted: Nov 12, 2004 04:52 PM bride-minus.png

Re: Homeowners... when u changed your deductions on your pay check...

Posted by DjPiLL

The number of deductions just tell the payroll people how much tax to take out. Its not like you deduct 1 if you have a co-op. 2 if you have a house.

Its not set like that. There are calculators that punch this stuff in for you.


I agree...not sure why this question is aimed at homeowners...what does that have to do with # of dependents you claim?
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JodiBabe Posted: Nov 12, 2004 05:33 PM+
JodiBabe MEMBER SINCE: 4/02 TOTAL POSTS : 4296 WEDDING DATE: Sep 13, 2003
Posted: Nov 12, 2004 05:33 PM bride-minus.png

Re: Homeowners... when u changed your deductions on your pay check...

Why would you do that? Then they take less in taxes out & you probably will end up owing them.
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swags1016 Posted: Nov 12, 2004 11:07 PM+
swags1016 MEMBER SINCE: 3/03 TOTAL POSTS : 12228 WEDDING DATE: Jul 26, 2003
Posted: Nov 12, 2004 11:07 PM bride-minus.png

Re: Homeowners... when u changed your deductions on your pay check...

We both still declare 00 on ours. If we are making it on paychecks before we bought the house, I say why change it and run the risk of owing.
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littlecat Posted: Nov 13, 2004 12:38 AM+
littlecat MEMBER SINCE: 2/03 TOTAL POSTS : 1329 WEDDING DATE: Aug 02, 2003
Posted: Nov 13, 2004 12:38 AM bride-minus.png

Re: Homeowners... when u changed your deductions on your pay check...

Go to www.paycheckcity.com to figure out what you check will be with however many exemptions you want. However i would not recommend you putting 5 in because at the end of the year you will probably owe money and it is hard to come up with a lump some at the end of the year.
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ChristineC68 Posted: Nov 13, 2004 05:00 AM+
ChristineC68 MEMBER SINCE: 5/01 TOTAL POSTS : 12170 WEDDING DATE: Sep 21, 2002
Posted: Nov 13, 2004 05:00 AM bride-minus.png

Re: Homeowners... when u changed your deductions on your pay check...

As a home owner you get tax credits so you don't necessarily need to have as much withheld. But I would run the numbers before changing anything.
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