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Jan 18, 2022
12:55
:57
pm
mannheimadler
All-American
Thank you! Exemptions is the word I was looking for. I couldn’t
Remember what the right word was. Thank you for the link! I’ll check it out for sure.
This message has been modified
Originally posted on Jan 18, 2022 at 12:55:57pm
Message modified by mannheimadler on Jan 18, 2022 at 12:57:16pm
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mannheimadler
Previous username
TomZarek
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mannheimadler
Joined
Aug 27, 2009
Last login
Apr 25, 2024
Total posts
14,567 (348 FO)
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Messages
Author
Time
Those CBers who are smarter about money than me: what is the best way to see
mannheimadler
1/18/22 12:33pm
I would think the payroll department in HR can give you a more
BYU71
1/18/22 12:36pm
The W4 just determines how much money your employer withholds. In the end your actual tax liability is going to be what
supertux
1/18/22 12:36pm
We almost always get a large refund because they end up withholding more.
mannheimadler
1/18/22 12:40pm
I see. If you follow the instructions for the W4 it should help you put the right amounts into the credits box
supertux
1/18/22 12:46pm
Thanks, everyone!
mannheimadler
1/18/22 12:47pm
Not sure I understand the question. Your kids should be listed on both.
Skeptical Optimist
1/18/22 12:36pm
My HR department helped me fill it out because I don’t understand a lot of tax
mannheimadler
1/18/22 12:38pm
Just take your refund, divide by 12 and that's how much more you would get month
BYUFootballisBack
1/18/22 12:40pm
But all of my return isn’t based just on my kids, right? Isn’t some of it
mannheimadler
1/18/22 12:41pm
Kids get you $2000 per eligible kid for the year
BYUFootballisBack
1/18/22 12:42pm
Claiming the dependent just applies the child tax credit to your paycheck.
molodyets
1/18/22 12:44pm
We have monthly paychecks. So that would be about $166 per month per kid then?
mannheimadler
1/18/22 12:47pm
2000/12, yes
molodyets
1/18/22 1:18pm
Ok, got it. As Supertux said above, the W4 is just a way to estimate how much
Skeptical Optimist
1/18/22 12:49pm
Thank you! Exemptions is the word I was looking for. I couldn’t
mannheimadler
1/18/22 12:55pm
Exemptions isn't even the right word anymore. They changed the W4 back in like 2019 and now instead of claiming
supertux
1/18/22 1:00pm
I use the IRS calculator, but apparently it's down again, it was working just
BYUFootballisBack
1/18/22 12:39pm
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