Not exact matches
On the opposite end of the spectrum, if you ended up getting a
big refund check last April, you might want to increase your allowances in order to lower how
much tax you are having withheld.
He explained that, at their parliamentary primaries, the aspirants paid GHc10, 000 as filing fee «it's not too
much of a
big deal for us especially when we are aware that we are entitled to a
refund after the election results have been declared.»
So by changing how
much the company withholds for taxes you get a
bigger check and less of a
refund (or possibly non / owe the government money).
If you have too
much money withheld from your paycheck, you could end up with a
big refund from the IRS, meaning you have been giving the government an interest - free loan for the past 12 months.
However, we do know that the W - 4 is a form taxpayers use to determine the amount withheld from a paycheck and affects how
big a
refund is, or how
much tax is owed, when they file a tax return on Tax Day.
But if we change our habits and place any unexpected extra money (such as an inheritance, cash gift, tax
refund or even the remote possibility of a lottery win) into the stock market instead, that money will leave you a
much bigger impression later on than if you simply spent it.
Waiting is similar to having too
much taxes withheld from your paycheck, and then getting a
big tax
refund the next year.
If you got a
big refund last year, or if you're expecting one this year, you're probably putting too
much of your pay toward taxes.
Katz mentioned that some accountants like to withhold as
much as people so it looks like they scored their clients a
big refund.