revised: about how much do you average getting back in your paycheck by claiming a house?or your tax refund
raken40
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revised: about how much do you average getting back in your paycheck by claiming a house?or your tax refund
and whats your approximate combined salary? TIA!
some people choose to -instead of getting your tax refund at the end of the year to get it back in your paychecks every week...
I'm just wondering how much you would really save?
skew
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Re: about how much do you average getting back in your paycheck by claiming a house?
huh?
NPbride
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Re: revised: about how much do you average getting back in your paycheck by claiming a house?or your tax refund
I spoke to my accountant before I changed what I claimed and I don't remember exactly how much more I am getting back but it's about $125 so around $250 per month. We opted not to change FI paycheck even though our accountant said we would be fine around tax time if we did. If we get too much of a refund next year then we'll change what FI claims. I don't like getting a huge refund, I'd rather be able to save/invest that money during the year and at least make a profit! Hope that helps!
myasmom
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Re: revised: about how much do you average getting back in your paycheck by claiming a house?or your tax refund
Posted by NPbride
I spoke to my accountant before I changed what I claimed and I don't remember exactly how much more I am getting back but it's about $125 so around $250 per month. We opted not to change FI paycheck even though our accountant said we would be fine around tax time if we did. If we get too much of a refund next year then we'll change what FI claims. I don't like getting a huge refund, I'd rather be able to save/invest that money during the year and at least make a profit! Hope that helps!
Just show me the money lol
Blu-ize
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Re: revised: about how much do you average getting back in your paycheck by claiming a house?or your tax refund
I changed the deductions from married 0 to married 2 and we ended up with a net of $600 more in our pay. Either way, we ended up with more in our paycheck and still got a refund. We balanced it out.
Florenze
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Re: revised: about how much do you average getting back in your paycheck by claiming a house?or your tax refund
The interest of mortgage is tax deductable, which is done at the end of the year, not per paycheck. Am I right on this? The amount of money you make is irrelvant, because is amount of the interest on the loan that is a deduction. At, least that is my understanding.
raken40
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Re: revised: about how much do you average getting back in your paycheck by claiming a house?or your tax refund
right...but i guess if you can estimate how much you are getting back then you can adjust your witholdings so you break even at the end of the year?
Blu-ize
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Re: revised: about how much do you average getting back in your paycheck by claiming a house?or your tax refund
Your tax bracket is what determines it and your marital status. It also depends on how many allowances your are currently claiming. If you want to FM me with some general numbers I can help you figure it out, but I understand if you don't want to.
It also depends on what deductions you have and if you file a long form and short form. When I was trying to figure it out, I called my accountant. Got the education I needed to make the right decisions. That is your best bet.
DjPiLL
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Re: revised: about how much do you average getting back in your paycheck by claiming a house?or your tax refund
I will eventually start to claim single-10 on my taxes which will give me a significant amount more per paycheck... maybe $600 more a month total or so.
