Thursday, June 30, 2005

How many additional withholdings does it take to balance out your federal taxes? I realize it's different for everyone, but instead of loaning the government your money at 0% interest, it's better to have more of it withheld upfront. I don't want to have to pay anything at the end of the year though. Right now I'm basically breaking even. Hopefully with a house I will have a lot more deductions and thus get to keep a lot more of my own money.

I think I'm currently taking 0 withholdings. Do you think I can bump that up to 3 and still be ok? How much of an impact will that have on my takehome salary? Is anyone here an accountant?

Beuller? Beuller?

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