I've got 99 exemptions and a bonus ain't one

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Apr 16, 2024
10:25:58pm

yahtzee All-American

I've got 99 exemptions and a bonus ain't one

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yahtzee

Previous username: yahtzee26
Bio page: yahtzee
Joined: Nov 22, 2004
Last login: Apr 29, 2024
Total posts: 28,082 (3,572 FO)

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Messages

Author

Time

Has anybody here ever claimed 99 exemptions on w4?

cougarBee

Apr 16, 10:24pm

I've got 99 exemptions and a bonus ain't one

yahtzee

Apr 16, 10:25pm

An audit of what? You'll pay all the taxes regardless.

Apr 16, 10:27pm

Yes I’ve done it. No it didn’t cause any problems

maxpowers

Apr 16, 10:30pm

Bonuses are withheld at a fixed rate (~40%), W-4 is irrelevant

Apr 16, 10:41pm

I’ve done it before by claiming exempt just before the bonus and the switching it back to normal withholdings after.

RoamingCoug

Apr 16, 11:35pm

Only if you have a Luftballoon for each one.

Florwood

Apr 17, 12:11am

Been awhile since you filled out a W4?

willkie40

Apr 17, 6:08am

Circular C has 22% bonus withholding rate for Federal. add 7.65% FICA would be

Acorn

Apr 17, 6:31am

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