if i make 48K a year, and i get paid biweekly, i have only 2 tax exceptions...how much is my take home?
89638
Less than a circus animal?
834457
Assuming you file single, your net check will be $793.02 if you claim 1 on w4 and $777.15 if you claim 0.  If you claim 1 you get more money each week, but you will have less withholding when it comes time to file your taxes.  Make sure you will be covered at tax time so you don't have to pay in a big chunck.
367104
Yes request a new form from your employer. I claim 8 allowances when I am only eligible for about 3. Your employer cant even notify the IRS unless you make 10 or more allowances. If your employer ask why so many allowances, just say, "that is my personal tax status, thank you"....This always works for me, and while I dont get many taxes, back, I get less taken out.
323014
The law is that you have to pay your taxes in the quarter that you have earned the income. If not you get penalized. The only reason that I know this is that I researched it last night. I have a seasonal job and most of my work is done in the first and last quarters. I can't wait till the end of the year to pay. Id say that 20 - 25% of your income should be held per check and you would be safe unless you make big money.......over 75-80 a year.
335865
On your pay stub, there should be a "how much was taken out this paycheck" and a "how much has been taken out YTD."  You could ask your employer if it's not provided.
750473
Excellent question!\n\nImagine a time long ago where once per year the tax man would stop by and ask how much you made the previous year and then say "give me 25%".  Oftentimes, you spend all you made and didn't have the 25% sitting around.  The tax collector would often under collect the taxes by a large amount.  So, the government got smart and said, "Why don't we collect taxes with every paycheck instead of waiting until the end of the year?"\n\nNow, if you have a flat tax, this is easy.  If your tax rate was 25% and there were no credits, deductions, or adjustments, the IRS would simply take 25% of your gross pay.  In fact, they do this currently with social security (6.2%) and Medicare (1.45%). \n\nBut, we don't have a flat tax.  Our tax structure is quite complicated.  We enter all our income minus all our adjustments, deductions, exemptions (dependents) to get to our final taxable income which is taxed at a tiered rate from 10% to 35%.  How much should your employer withhold and give to the IRS on your behalf every paycheck?  5%?  10%?  30%?  Let's say you and a coworker both earn $50,000 per year, but he has a wife and 3 kids.  Maybe his federal tax is only 5% of his earnings whereas you, single and no kids, has a federal tax of 15%.  If your employer withholds 10% from each, your coworker will get a large refund and you will end up owing.  He may want more in each paycheck and a smaller refund.  You may want less in each paycheck and not owe anything at the end of the year.\n\nWithholding allowances give you, the taxpayer, that control.  They allow you to throttle the amount your employer withholds from each paycheck and gives to the IRS.  There are limitations.  If you choose an allowance that is too large, you may end up owing more than the IRS feels you should and they will charge you with penalties.  On the other hand, if you choose a real small allowance, you will end up getting a much larger refund, but each paycheck may be not have enough post-tax money.\n\nBy the way, congratulations for calling them "withholding allowances" and not "dependents" or "exemptions".  Most people don't know the difference.
378411
Take your weekly income and multiply it by 52. duhhhh
363359
Depending on whether or not you are married, the average amount you would get to take home is 6,200 per month or 74,400 per year. You'll be able to claim the interest on your land and student loans. The best thing for you to do, if you have no dependents, is to let your employer take the most amount of taxes out that you can afford. Also, if your company has it, participate in the 401k retirement funds. They are tax deductible.
125150
If you are under 59 1/2, there is a 10% penalty and the amount that you take out will be taxed as ordinary income.  There are some exceptions; i.e. if you are using the money for health reasons or to purchase your first home.  Check out publication 590 on the IRS website (www.irs.gov) or consult a tax professional.
621149
It depends.  If you really can claim 2, then yes go and claim 2.  You will get more now and less/none on your refund.  This is preferable.  Just beware that if at tax time, you can't actually claim 2, you'll have to pay the taxes and in some cases, there might be penalties if you claim much more than you were supposed to.  As in, you claimed 10, but you were only supposed to claim 2.\n\nRead over the W-4 and claim the number that you should.  The labels are pretty clear.  It's nonoptimal to blindly claim 0 and get a return because the government gets to use your money interest free for that entire period when it was yours anyway.
651237
It depends on how much you make and how many deductions you claim on your W-4, but generally somewhere around 20-40% get withheld.
264359
You can do it either way. You can print it off the IRS web site or your employer can get you a new one. Don't stress if you are a Little late in turning it in. The have to withhold at the highest tax rate until you fill out the  4-w telling them otherwise
120408
That depends on many factors, including your state and local income tax rates.  However, you can use the tables at this site http://www.irs.gov/formspubs/article/0,,id=133517,00.html "backwards", to calculate the amount you'd have to earn before taxes to take home $35,000.
61001
You have 2 dependents and yourself. You should claim 0,1, or 2 dependants plus yourself on your w-4.   0 dependents will get you a bigger federal tax refund next year because you will pay a little more each paycheck than if you claimed 1 or 2. If you get spousal support, you will also be taxed for that money. It's better to claim less dependants on your w-4.
183599
If your income goes up at all and puts you out of the Earned Income Credit guidelines, it could pose a real problem.  To be safe you should continue claiming 4 which is high as it is.  Besides the return is nice at the end of the year and you dont really notice the withholdings much.
187662
File a tax return. If you want a refund as you employer to give you a w4 form and change the number of exemptions that you want to take. You can also have them hold More out of each check
348486
You should not.\nYou pay should be one rate for the period, using either 24 or 26 pay periods (dependent on whether you get paid twice a month or every other week).\nThere should not be an hourly rate (because if there was it would lead to questions about whether you should be earning overtime).