Currently I have 1 deduction listed on my W-4. I did my taxes for the year and it looks like I will be getting back $1700 from the fed. My only concern is that I didn't work the entire year. I started my full time job halfway through the year and so my total pay was only half of what it normally would be. I would think this would put me in a lower tax bracket than I typically would be in.
Do you guys think it would still be ok to bump my deductions from 1 to 2? Is there any site I can go to that can give me a better idea of how many to take based on my annual income?
As others have said on here, I don't feel like giving the government an interest free loan. Especially if it will be bigger next year(double the income as this year).
5th Annual Tax Thread - 2007
Moderator allisolm
Do you guys think it would still be ok to bump my deductions from 1 to 2? Is there any site I can go to that can give me a better idea of how many to take based on my annual income?
As others have said on here, I don't feel like giving the government an interest free loan. Especially if it will be bigger next year(double the income as this year).
5th Annual Tax Thread - 2007
Moderator allisolm
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