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Paycheck and taxes question..

I am in the state of AL. I am working, my dh is not. What is the Medicare, social security percentage? Is it different in every state? We are very low income. Trying to see if I will have enough on payday for the power bill and water. my check before taxes should be 300.000
I didn't claim any exemptions, and under all boxes I put 0.
Any got any idea?
Posted on CafeMom Mobile
by on Oct. 13, 2012 at 2:45 PM
Replies (21-30):
Tea4Tas
by on Oct. 13, 2012 at 5:04 PM
3 moms liked this


Quoting sleepymommy87:

It's still tax fraud if she were to get audited. I'd rather not risk jail time just saying


Quoting TeaHound:

ACTUALLY, it doesn't work that way. You owe the same amount. She said "very low income". She probably doesn't owe anything at tax time.

PS: My MIL is the one who told us to do this. She's a CPA.




Quoting sleepymommy87:

I would strongly recommend AGAINST this advice. If you put 10 you'll end up owing a hell of a lot of money come tax season. Putting 0 sucks throughout the year but it pretty much ensures never owing taxes.



Quoting TeaHound:

If you have previous paychecks or pay info, like online records from direct deposit, you should be able to work backwards from there or find a check for close enough to the same amount.


I would suggest changing your dependents to something like 10. That way you aren't getting as much $ taken out of your check.



No it is NOT tax fraud. If you don't know what you are talking about-don't make yourself look foolish

ON your W4 you can claim whatever you want 0, 10, 6 or whatever. ON YOUR TAX return, you can ONLY claim that to which you are entitled.  It is not tax fraud to underwithold on your W4. IF you underwithold too often or too much you will be  required to file EQT's.

mom2ljh
by on Oct. 13, 2012 at 5:04 PM
The most ideal thing to do is to use the IRS exemption calculator. DH claims 7 exemptions per the calculator and, before tax credits, we pretty much break even.
I claim 0 because its harder with a second income to calculate and we don't want to owe.


Quoting sleepymommy87:

I would strongly recommend AGAINST this advice. If you put 10 you'll end up owing a hell of a lot of money come tax season. Putting 0 sucks throughout the year but it pretty much ensures never owing taxes.


Quoting TeaHound:

If you have previous paychecks or pay info, like online records from direct deposit, you should be able to work backwards from there or find a check for close enough to the same amount.

I would suggest changing your dependents to something like 10. That way you aren't getting as much $ taken out of your check.



Posted on CafeMom Mobile
mommy2annaliese
by on Oct. 13, 2012 at 5:05 PM
LOL. Omg I would never do tax fraud. I don't ever want to cross the goverment. I'm just gonna claim my daughter. Hopefully when I go back to work I can fix it.


Quoting sleepymommy87:

It's still tax fraud if she were to get audited. I'd rather not risk jail time just saying




Quoting TeaHound:

ACTUALLY, it doesn't work that way. You owe the same amount. She said "very low income". She probably doesn't owe anything at tax time.


PS: My MIL is the one who told us to do this. She's a CPA.






Quoting sleepymommy87:

I would strongly recommend AGAINST this advice. If you put 10 you'll end up owing a hell of a lot of money come tax season. Putting 0 sucks throughout the year but it pretty much ensures never owing taxes.




Quoting TeaHound:

If you have previous paychecks or pay info, like online records from direct deposit, you should be able to work backwards from there or find a check for close enough to the same amount.



I would suggest changing your dependents to something like 10. That way you aren't getting as much $ taken out of your check.




Posted on CafeMom Mobile
Tea4Tas
by on Oct. 13, 2012 at 5:12 PM


Quoting mommy2annaliese:

Yeah, I get paid biweekly, I work about 35 hours a week, 10.00 an hour. We only afford food and bills. I haven't bought anything for myself in two years.
I guess I'll go fix it when I work next. I didn't know what dependant meant at the time, so I will fix it to say my dd.
Hopefully it will help and I won't owe more taxes. I def won't be getting a return this year because I owe them 1,000.00 from a check I got when that oil spill hit because it cause me to lose months of work.


Quoting TeaHound:

ACTUALLY, it doesn't work that way. You owe the same amount. She said "very low income". She probably doesn't owe anything at tax time.

PS: My MIL is the one who told us to do this. She's a CPA.




Quoting sleepymommy87:

I would strongly recommend AGAINST this advice. If you put 10 you'll end up owing a hell of a lot of money come tax season. Putting 0 sucks throughout the year but it pretty much ensures never owing taxes.



Quoting TeaHound:

If you have previous paychecks or pay info, like online records from direct deposit, you should be able to work backwards from there or find a check for close enough to the same amount.


I would suggest changing your dependents to something like 10. That way you aren't getting as much $ taken out of your check.



Here is an eitc calculator. YOU need to claim your daughter to get EITC.

You can get quite a bit back. Are you married or not? You said DH and then called him DF. And yes that matters


How do I know how much my EITC is worth?

Back to top
The value of your EITC is based on your adjusted gross income and the number of qualifying children in your family. You can calculate your EITC yourself by using the Earned Income Credit Worksheet in Form 1040, Form 1040A, or Form 1040EZ. Or you can ask the IRS to calculate it for you by noting an “EIC” in the Earned Income Credit line on your tax return.

For an estimate on the value of your EITC, use the Center on Budget and Policy Priorities Tax Credit Estimator.

Tea4Tas
by on Oct. 13, 2012 at 5:15 PM

If you put $15,000 into the estimater, you see your eitc is about 3000. Which would pay off your debt and give you about $2000 left over.

mommy2annaliese
by on Oct. 13, 2012 at 5:32 PM
No. (I wish!) We had a wedding but didn't ever do the papers and then we had a very traumatic thing happen and i decided that my df wasnt mentally stable rightnow so it might now be the best idea to be married to him. so no not legally, i guess legally he is my DF. i mostly write dh beause in the past when i put df people ask me what i meant lol. so we file seperately. Sorry for the confusion

Quoting Tea4Tas:



Quoting mommy2annaliese:

Yeah, I get paid biweekly, I work about 35 hours a week, 10.00 an hour. We only afford food and bills. I haven't bought anything for myself in two years.

I guess I'll go fix it when I work next. I didn't know what dependant meant at the time, so I will fix it to say my dd.

Hopefully it will help and I won't owe more taxes. I def won't be getting a return this year because I owe them 1,000.00 from a check I got when that oil spill hit because it cause me to lose months of work.





Quoting TeaHound:

ACTUALLY, it doesn't work that way. You owe the same amount. She said "very low income". She probably doesn't owe anything at tax time.


PS: My MIL is the one who told us to do this. She's a CPA.






Quoting sleepymommy87:

I would strongly recommend AGAINST this advice. If you put 10 you'll end up owing a hell of a lot of money come tax season. Putting 0 sucks throughout the year but it pretty much ensures never owing taxes.




Quoting TeaHound:

If you have previous paychecks or pay info, like online records from direct deposit, you should be able to work backwards from there or find a check for close enough to the same amount.



I would suggest changing your dependents to something like 10. That way you aren't getting as much $ taken out of your check.




Here is an eitc calculator. YOU need to claim your daughter to get EITC.

You can get quite a bit back. Are you married or not? You said DH and then called him DF. And yes that matters






How do I know how much my EITC is worth?

Back to top
The value of
your EITC is based on your adjusted gross income and the number of
qualifying children in your family. You can calculate your EITC yourself
by using the Earned Income Credit Worksheet in Form 1040, Form 1040A, or Form 1040EZ. Or you can ask the IRS to calculate it for you by noting an “EIC” in the Earned Income Credit line on your tax return.

For an estimate on the value of your EITC, use the Center on Budget and Policy Priorities Tax Credit Estimator.



Posted on CafeMom Mobile
mommy2annaliese
by on Oct. 13, 2012 at 5:35 PM
Oh wow, well I will go in and fix it Monday.


Quoting Tea4Tas:

If you put $15,000 into the estimater, you see your eitc is about 3000. Which would pay off your debt and give you about $2000 left over.


Posted on CafeMom Mobile
erinsmom1964
by Gold Member on Oct. 13, 2012 at 5:42 PM
This isnt true at all. When your such low income and have children there is no way you will owe money. To put 0 is riduclious unless you like loaning your money interest free to the government all year long. OP you should actually read the directions for claiming exemptions. They were attached to the W4 you filled out

Quoting sleepymommy87:

I would strongly recommend AGAINST this advice. If you put 10 you'll end up owing a hell of a lot of money come tax season. Putting 0 sucks throughout the year but it pretty much ensures never owing taxes.


Quoting TeaHound:

If you have previous paychecks or pay info, like online records from direct deposit, you should be able to work backwards from there or find a check for close enough to the same amount.

I would suggest changing your dependents to something like 10. That way you aren't getting as much $ taken out of your check.


Posted on CafeMom Mobile
erinsmom1964
by Gold Member on Oct. 13, 2012 at 5:44 PM
Dont pick her to listen to as she is clueless

Quoting mommy2annaliese:

LOL. Omg I would never do tax fraud. I don't ever want to cross the goverment. I'm just gonna claim my daughter. Hopefully when I go back to work I can fix it.




Quoting sleepymommy87:

It's still tax fraud if she were to get audited. I'd rather not risk jail time just saying






Quoting TeaHound:

ACTUALLY, it doesn't work that way. You owe the same amount. She said "very low income". She probably doesn't owe anything at tax time.



PS: My MIL is the one who told us to do this. She's a CPA.








Quoting sleepymommy87:

I would strongly recommend AGAINST this advice. If you put 10 you'll end up owing a hell of a lot of money come tax season. Putting 0 sucks throughout the year but it pretty much ensures never owing taxes.





Quoting TeaHound:

If you have previous paychecks or pay info, like online records from direct deposit, you should be able to work backwards from there or find a check for close enough to the same amount.




I would suggest changing your dependents to something like 10. That way you aren't getting as much $ taken out of your check.




Posted on CafeMom Mobile
nessac1987
by Bronze Member on Oct. 13, 2012 at 5:48 PM
Ya i wouldnt do this either. I did 4 for half the year whenit was only me and my son and ended up having to pay back 3thous -_- never again. I now have 2 kids and both myself and df only claim 1 on our dependents


Quoting sleepymommy87:

I would strongly recommend AGAINST this advice. If you put 10 you'll end up owing a hell of a lot of money come tax season. Putting 0 sucks throughout the year but it pretty much ensures never owing taxes.


Quoting TeaHound:

If you have previous paychecks or pay info, like online records from direct deposit, you should be able to work backwards from there or find a check for close enough to the same amount.

I would suggest changing your dependents to something like 10. That way you aren't getting as much $ taken out of your check.



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