Withholdings

Community Leader
Registered: 07-26-1999
Withholdings
8
Mon, 02-23-2009 - 9:30am

I don't know if this is really seeking advice, more of a vent I suppose.


We filed our taxes about a week ago.

Photobucket
iVillage Member
Registered: 07-02-2008
In reply to: arryl
Mon, 02-23-2009 - 10:40am

I personally think everyone is different when it comes to their withholding status. I like to leave mine single 0 so that they take out as much as possible. That's just ME.


You and your DH do whats best for your family. My DH doesn't do bills either and never thinks we save/have enough but I told him to go ahead and attempt to pay bills and save money and he will see how tricky it all is. He is criticizing something he doesn't know. You are doing a great job. Keep at it!

iVillage Member
Registered: 10-28-2006
In reply to: arryl
Mon, 02-23-2009 - 10:51am

I have mine at 0. Yes it hurts during the year, but if I have it I'll spend it. I love getting a big refund back, it makes me feel good to pay off my target cc card each year, and then I take a $100 dollars of it out to spend and the rest goes into my ING account.

Community Leader
Registered: 07-26-1999
In reply to: arryl
Mon, 02-23-2009 - 11:10am

Well, like I have nothing better to do with my times.

Photobucket
iVillage Member
Registered: 03-17-2003
In reply to: arryl
Mon, 02-23-2009 - 11:17am
Many households have this discussion around tax time.
iVillage Member
Registered: 08-04-2008
In reply to: arryl
Mon, 02-23-2009 - 3:40pm

Why would you give the government you money to hold, interest free?




iVillage Member
Registered: 02-19-2003
In reply to: arryl
Wed, 02-25-2009 - 11:33am

Hi there,
I just wanted to let you know that Carmen Wong Ulrich from CNBC has answered your question in her latest iVillage Video.
I hope this helps answer your question.


http://video.ivillage.com/player/?id=1038742



Avatar for londonrose2001
iVillage Member
Registered: 04-09-2003
In reply to: arryl
Wed, 02-25-2009 - 11:41am

I'm big on the not letting the government borrow my money thing, so I would vote not to change.


You could also tell your dh that beginning April 1, withholdings will go down, per the stimulus bill, and on avg will result in an additional $20 per week in your pay check. That would probably be the equivalent of any change you would see from changing your wittholdings.


HTH!


Kris

 

Community Leader
Registered: 07-26-1999
In reply to: arryl
Wed, 02-25-2009 - 12:31pm
I actually told him about the mock tax return I did earlier in the week and explained how if we left everything the same, we most likely will get around $3500 back next year.
Photobucket