Determining number of deductions to take in order to maximize my paycheck?

Determining number of deductions to take in order to maximize my paycheck?
by

1 Answer

Answer :

answer:Too many variables and personal details. Are you a dependent? Do you have your own dependents? Figure that your gross salary is $880/week or around $3300/month. After social security and stuff, you clear $2500. Multiply $2500 times 6 months, and you’re at around $15000 gross salary. Now figure that you will have various exemptions when it comes to tax time – most importantly the personal one (which is why I asked if you are someone else;s dependent). In the end, you’re not going to make enough to pay taxes in the first place. So take the highest # of deductions possible on your W-9 – I think that the max. is 9 – and roll with it.
by

Related questions

Does Prudential life insurance do paycheck deductions?

Description : Does Prudential life insurance do paycheck deductions?

Last Answer : To offer convenience for its valued customers, The Prudential Insurance Company does offer payroll deductions to help make it easier to afford optional term life insurance.

How can I maximize my efficiency at the office?

Description : How can I maximize my efficiency at the office?

Last Answer : Funny how you say “lifehacks”. Try searching through this website for anything specific you want like “task management”. www.lifehacker.com I’ve found a ton of useful websites, apps, and ideas through Lifehacker.

_______is the primary motive for a business enterprise. A. Profit. B. Maximize customers. C. Human objective. D. Maximize suppliers.

Description : _______is the primary motive for a business enterprise. A. Profit. B. Maximize customers. C. Human objective. D. Maximize suppliers.

Last Answer : A. Profit.

Goals realization continuously will lead to _______. A. mission fulfillment. B. maximize customers. C. high revenue. D. maximize suppliers.

Description : Goals realization continuously will lead to _______. A. mission fulfillment. B. maximize customers. C. high revenue. D. maximize suppliers.

Last Answer : A. mission fulfillment.

A valid definition of a business purpose is to _______. A. create a customer. B. maximize profits. C. serve the society. D. increase the wealth in the firm.

Description : A valid definition of a business purpose is to _______. A. create a customer. B. maximize profits. C. serve the society. D. increase the wealth in the firm.

Last Answer : A. create a customer.

First step in the controlling process is: a. Taking corrective action b. Analyzing the deviation c. Determining Standards d. Measurement of actual progress

Description : First step in the controlling process is: a. Taking corrective action b. Analyzing the deviation c. Determining Standards d. Measurement of actual progress

Last Answer : c. Determining Standards

The sixth plan mentions 17 criteria for determining the prevalence of ____. A. poor. B. academician. C. backwardness. D. business.

Description : The sixth plan mentions 17 criteria for determining the prevalence of ____. A. poor. B. academician. C. backwardness. D. business.

Last Answer : C. backwardness.

husband and wife live together but file separately. both are itemizing deductions. husband pays mortgage and r/e taxes. house in both names. does the mortgage interest and r/e taxes have to be split if all paid by husband or is husband entitled to take ?

Description : husband and wife live together but file separately. both are itemizing deductions. husband pays mortgage and r/e taxes. house in both names. does the mortgage interest and r/e taxes have to be split if all paid by husband or is husband entitled to take ?

Last Answer : “husband and wife live together but file separately. both are itemizing deductions. husband pays mortgage and r/e taxes. house in both names. does the mortgage interest and r/e taxes have to be split if all paid by husband or is husband entitled to take full deduction.”

What makes 25900year salary as a document processor. He has made the following chart in order to divide his weekly paycheck into his accounts Expense type Account Weekly deposits Essential (Fixed)?

Description : What makes 25900year salary as a document processor. He has made the following chart in order to divide his weekly paycheck into his accounts Expense type Account Weekly deposits Essential (Fixed)?

Last Answer : What is the answer ?

Has anyone else noticed the new push by charities to even out contributions by pushing monthly donation deductions -- and the parallel development of cloud drive technology?

Description : Has anyone else noticed the new push by charities to even out contributions by pushing monthly donation deductions -- and the parallel development of cloud drive technology?

Last Answer : answer:I'm not sure I get the connection between these phenomenon, but what the charities are doing does make sense in terms of evening put cash flow. As for cloud storage, I'm inherently distrusting the ... second they want to start slapping a charge on it, I'll have no problem kissing it goodbye.

Are both New York state tax deductions and state sales tax allowed?

Description : Are both New York state tax deductions and state sales tax allowed?

Last Answer : I am not a CPA and I think this is the case about taking sales tax as a deduction on federal tax return: you can only take the state sales tax as a federal deduction if you itemize ... think there is a maximum sales tax deduction based on your adjusted gross income. please have an accountant confirm

Payroll Deductions?

Description : Payroll Deductions?

Last Answer : Payroll DeductionsUse this calculator to help you determine the impact of changingyour payroll deductions. You can enter your current payrollinformation and deductions, and then compare them to your ... home pay. This calculator has beenupdated to use the new withholding schedules for 2010.

Above-the-line Tax Deductions?

Description : Above-the-line Tax Deductions?

Last Answer : If you qualify, you can claim above-the-line tax deductions even if you don't itemize.Click here to fill out the Above-the-line Tax Deductionsform

How Adjustments And Deductions Can Affect Income Tax Rates?

Description : How Adjustments And Deductions Can Affect Income Tax Rates?

Last Answer : There is sometimes a perception that the income tax rates for various individuals are tightly fixed percentages that cannot be changed in any way. This is not always the case, and there are a number ... professional to, at the very least, look over a return before filing could be very beneficial.

Proving You Deserve Deductions?

Description : Proving You Deserve Deductions?

Last Answer : There are many different IRS tax deductions that you can get if you sign up for them when you file your taxes. You just have to put in the raw data if you are using a computer-based system, ... government is very good at figuring out who is cheating and the vast majority of these people are caught.

Federal Tax Deductions?

Description : Federal Tax Deductions?

Last Answer : Federal tax deductions are items subtracted from the taxpayer' gross income and are not factored in calculating the income tax of the taxpayer. There are dozens of available deductions for many ... labor, etc. A self employed individual is normally permitted to utilize many of these deductions.

Do you get Roth IRA tax deductions?

Description : Do you get Roth IRA tax deductions?

Last Answer : Everything that is in a Roth IRA is non tax deductible. You can get a tax credit of 50% on the first $2000 that you contribute to the IRA if you meet qualifications. The qualifications a listed on this site: http://www.your-roth-ira.com/roth-IRA-tax-credit.html

Figure Out Deductions as an Unemployed Person?

Description : Figure Out Deductions as an Unemployed Person?

Last Answer : Did you know that you are able to deduct certain expenses for being an unemployed person? As an unemployed person, there are a lot of different tax deductions that you should keep in mind ... resume after resume to various businesses. You should at least claim a deduction for this expense!

What are deductions allowed when calculating federal income taxes?

Description : What are deductions allowed when calculating federal income taxes?

Last Answer : The deductions allowed whe calculating federal income taxes are as follow: Mortgage interest, charitable contributions, job expense, miscellanoous expense, medical expense in excess of 7.5 of income, and payment of state and local property taxes.

What consumers use cost benefit analysis in order to maximize?

Description : What consumers use cost benefit analysis in order to maximize?

Last Answer : Consumers use cost-benefit analysis in order to maximizeutility.

What consumers use cost-benefit analysis in order to maximize?

Description : What consumers use cost-benefit analysis in order to maximize?

Last Answer : Consumers use cost-benefit analysis in order to maximizeutility.

Holistic approach of total organization needs allows projects to be staffed and scheduled in order to A. Replace System Performance B. Minimize System Performance C. Maximize System Performance D. Optimize System Performance

Description : Holistic approach of total organization needs allows projects to be staffed and scheduled in order to A. Replace System Performance B. Minimize System Performance C. Maximize System Performance D. Optimize System Performance

Last Answer : Optimize System Performance

In order to maximize profits, a monopoly company will produce that quantity at which the: a. marginal revenue equals average total cost b. price equals marginal revenue c. marginal revenue equals marginal cost d. total revenue equals total cost

Description : In order to maximize profits, a monopoly company will produce that quantity at which the: a. marginal revenue equals average total cost b. price equals marginal revenue c. marginal revenue equals marginal cost d. total revenue equals total cost

Last Answer : c. marginal revenue equals marginal cost

What might be equivalent to "living paycheck to paycheck" , on an emotional level?

Description : What might be equivalent to "living paycheck to paycheck" , on an emotional level?

Last Answer : answer:Here are two that immediately come to mind: living in the moment emotionally unstable

Under Obamacare how much money of my paycheck will be deducted?

Description : Under Obamacare how much money of my paycheck will be deducted?

Last Answer : From what I have read you don’t make enough to be effected.

If you had a paying/paycheck job as a teen, what were your best memories?

Description : If you had a paying/paycheck job as a teen, what were your best memories?

Last Answer : Cashing the check.

How much was your first paycheck ever?

Description : How much was your first paycheck ever?

Last Answer : I worked in a child labour factory for a jewelery company called MicMac. they paid me 52.000 pesetas for a months work. That is about 350 bucks. It was a full time job (10 hours a day) I was 15 years old, and I did it for a couple of months.

I'm planing on buying a house next summer. How much should I save each paycheck biweekly?

Description : I'm planing on buying a house next summer. How much should I save each paycheck biweekly?

Last Answer : answer:As much as you can. Look at house prices in your area. The closer you can get to putting 20% down, the better off you’ll be—the less trouble you’ll have getting a mortgage and the fewer other annoyances you’ll have to deal with.

is it legal for my boss to decduct from my paycheck if I missed one day of work and I am a salaried employee?

Description : is it legal for my boss to decduct from my paycheck if I missed one day of work and I am a salaried employee?

Last Answer : answer:If it wasn’t, what’s the incentive for you to show up? Why not take a day off every pay period? If you don’t have vacation time, sick time, or comp time (which is usually negotiated prior to the absence) then you have to take a day of unpaid leave.

How much tax can I expect to pay on my first paycheck?

Description : How much tax can I expect to pay on my first paycheck?

Last Answer : Be sure and include money for the Self Employment tax (a little more than 14% of gross) that you will need to pay too. Federal varies. To be on the safe side, I save out 25%. Some people do 30%.

You could live in a beautiful nice country, but taxes are 60% of your paycheck. What will you decide?

Description : You could live in a beautiful nice country, but taxes are 60% of your paycheck. What will you decide?

Last Answer : I already live there

Hello, I would like to ask what should I do if I have the first paycheck without funds and I do not have food.

Description : I can't borrow and my family won't help me.

Last Answer : You can try to ask your employer for a deposit.

The employer owes me a paycheck

Description : What should I do if an agreement is not possible and my phone is no longer picked up and denied? Should I go to the police with a contract?

Last Answer : If your "papers" are in order, then: - file a lawsuit against your employer (execution will be ordered in court) - or contact the Labor Office, he may pay you a "wage deposit"

how to attach someone's paycheck

Description : how to attach someone's paycheck

Last Answer : Instructions 1 Check with state laws before you attempt to collect a debtor's earnings. See the Resources section below for more information about laws regarding wage garnishment from each state. ... sends the garnished amount to you. http://www.ehow.com/how_4809461_garnish-someones-wages.html

When do you get first paycheck from menards?

Description : When do you get first paycheck from menards?

Last Answer : Feel Free to Answer

What is income tax withheld from each paycheck and sent to the state or federal government?

Description : What is income tax withheld from each paycheck and sent to the state or federal government?

Last Answer : WithholdING taxes

Who would have more federal income tax withheld from emploee's paycheck with allowances?

Description : Who would have more federal income tax withheld from emploee's paycheck with allowances?

Last Answer : Need answer

Hourly Paycheck Calculator?

Description : Hourly Paycheck Calculator?

Last Answer : Hourly Paycheck CalculatorUse this calculator to help you determine your paycheck forhourly wages. First, enter your current payroll information anddeductions. Then enter the hours you expect to ... rate. This calculator has been updated to use the newwithholding schedules for 2010.

Net to Gross Paycheck Calculator?

Description : Net to Gross Paycheck Calculator?

Last Answer : Net to Gross Paycheck CalculatorThis calculator helps you determine the gross paycheck needed toprovide a required net amount. First, enter the net paycheck yourequire. Then enter your current payroll ... net paycheck. This calculator has been updated to usethe new withholding schedules for 2010.

Roth 401(k) vs. Traditional 401(k) and your Paycheck?

Description : Roth 401(k) vs. Traditional 401(k) and your Paycheck?

Last Answer : Roth 401(k) vs. Traditional 401(k) and your PaycheckA 401(k) can be an effective retirement tool. As of January2006, there is a new type of 401(k) contribution. Roth 401(k)contributions ... Use this calculator to help determine theoption that could work for you and how it might affect yourpaycheck.

What can I do about my employer,who is constantly late with my paycheck We are susppose to get paid every, Thursday before 5:00, but every week she always has an excuse, so we have to wait until she decides to bring us our checks. Is there anything to d?

Description : What can I do about my employer,who is constantly late with my paycheck We are susppose to get paid every, Thursday before 5:00, but every week she always has an excuse, so we have to wait until she decides to bring us our checks. Is there anything to d?

Last Answer : If your employer is a few days late with your pay, that is surely an annoyance but it is not against the law, per se. Call the local office of the Labor Board to discuss it. For ... pay them as promised. As such, her employees might consider looking elsewhere for work where they are appreciated.

Can I stop my wages from being garnished for a defaulted student loan The company that is garnishing by check says that the money that is being taken from my paycheck is only paying their fee, not any part of the loan. Is there any way that I can repay it?

Description : Can I stop my wages from being garnished for a defaulted student loan The company that is garnishing by check says that the money that is being taken from my paycheck is only paying their fee, not any part of the loan. Is there any way that I can repay it?

Last Answer : You cannot get out from under a student loan. If you have the ability to pay back the loan do so as quickly as possible as your interest will rapidly increase the principle, especially if part of your garnishment is not covering it.

does hr block do tax refund with last paycheck stub?

Description : does hr block do tax refund with last paycheck stub?

Last Answer : H&R block most certainly does tax refunds with the last paycheck stub. Just go to your nearest H&R Block and they will be happy to help you.

What is the highest income tax percentage that can be taken out of one's paycheck?

Description : What is the highest income tax percentage that can be taken out of one's paycheck?

Last Answer : In the year 2012, the highest income tax rate percentage for the United States is 35%. This is for someone who makes over $388,000 per year. On the other end of the spectrum, someone who makes less than $8,700 per year has a rate of 10%.

How much money will be taken out of my paycheck for income taxes if I get paid minimum wage?

Description : How much money will be taken out of my paycheck for income taxes if I get paid minimum wage?

Last Answer : Working through a financial calculator will help to show the value taken out of your paycheck. This website provides a calculator to view what you should expect can be taken out of your paycheck http://www.moneychimp.com/features/tax_brackets.htm

Should I invest a percentage of my paycheck?

Description : Should I invest a percentage of my paycheck?

Last Answer : Some people invest a percentage of their paycheck. You should only invest a part of your paycheck if you have enough in savings and if you do not need the money immediately like for bills.

Mary's paycheck was for $600.00. When she cashed her check at the bank, the teller gave her a total of 40 bills, both tens and twenties. How many tens did the teller give Mary?

Description : Mary's paycheck was for $600.00. When she cashed her check at the bank, the teller gave her a total of 40 bills, both tens and twenties. How many tens did the teller give Mary?

Last Answer : 20

Do you think it's fair that taxi cabs need to comply with regulations in order to operate but Uber doesn't?

Description : Do you think it's fair that taxi cabs need to comply with regulations in order to operate but Uber doesn't?

Last Answer : NY taxi cabs have been a regulated and protected monopoly for years. Mostly politics, of course, but the city kept the number of medallions low so the taxi owners got richer and richer. Of course ... yellow cab drivers who got rich and complacent and tried to protect their monopoly. Too bad so sad.

What do I have to do in order to set up a small business for an ice-cream truck?

Description : What do I have to do in order to set up a small business for an ice-cream truck?

Last Answer : answer:It depends on where you are, but there are generally permits involved, and health inspections to certify that you are able to safely sell food. But local laws vary enough that, without knowing where you are, we can’t say which hoops you need to jump through.