• Hi, I am the owner and main administrator of Styleforum. If you find the forum useful and fun, please help support it by buying through the posted links on the forum. Our main, very popular sales thread, where the latest and best sales are listed, are posted HERE

    Purchases made through some of our links earns a commission for the forum and allows us to do the work of maintaining and improving it. Finally, thanks for being a part of this community. We realize that there are many choices today on the internet, and we have all of you to thank for making Styleforum the foremost destination for discussions of menswear.
  • This site contains affiliate links for which Styleforum may be compensated.
  • We would like to welcome House of Huntington as an official Affiliate Vendor. Shop past season Drake's, Nigel Cabourn, Private White V.C. and other menswear luxury brands at exceptional prices below retail. Please visit the Houise of Huntington thread and welcome them to the forum.

  • STYLE. COMMUNITY. GREAT CLOTHING.

    Bored of counting likes on social networks? At Styleforum, you’ll find rousing discussions that go beyond strings of emojis.

    Click Here to join Styleforum's thousands of style enthusiasts today!

    Styleforum is supported in part by commission earning affiliate links sitewide. Please support us by using them. You may learn more here.

Asking your employer for minimum tax withholding?

bawlin

Distinguished Member
Joined
Jul 17, 2008
Messages
3,509
Reaction score
1,911
Has anyone successfully done this before?

I'm in sales and I'm able to deduct a ton of expenses - home office, phone, meals, etc. I end up getting a fairly significant tax refund but I'm starting to think maybe I should just have my employer withhold the minimum amount and get close to nothing back from the government (or run the risk of owing a little bit).

Anyone done this?
 

Piobaire

Not left of center?
Joined
Dec 5, 2006
Messages
81,723
Reaction score
63,071
Just go to HR and tell them you want to increase the number of your deductions. Pretty simple.
 

tj100

Senior Member
Joined
May 4, 2009
Messages
655
Reaction score
22
Originally Posted by Piobaire
Just go to HR and tell them you want to increase the number of your deductions. Pretty simple.
Agreed; just fill out a new W4. I was once asked to sign something indicating that I understood the risks involved with under-withholding and authorized the company to do so - which seemed reasonable to me. Just to clarify, the "minimum amount" to withhold is zero, but unless you file quarterly estimates, you're likely to end up in a penalty-and-interest situation come next April.
 

in stitches

Stylish Dinosaur
Spamminator Moderator
Moderator
Supporting Member
Joined
Oct 10, 2010
Messages
66,397
Reaction score
33,106
Originally Posted by Piobaire
Just go to HR and tell them you want to increase the number of your deductions. Pretty simple.

bingo.

but make sure you are gonna be close to break even at years end. they dont like it when you owe them a lot of money. ive done it and if you stick with the above you should be fine.
 

dragon8

Distinguished Member
Joined
Feb 19, 2007
Messages
4,295
Reaction score
72
Originally Posted by Piobaire
Just go to HR and tell them you want to increase the number of your deductions. Pretty simple.

This. But becareful since you may owe some or alot at the end of the year.
 

Featured Sponsor

How important is full vs half canvas to you for heavier sport jackets?

  • Definitely full canvas only

    Votes: 55 35.5%
  • Half canvas is fine

    Votes: 60 38.7%
  • Really don't care

    Votes: 17 11.0%
  • Depends on fabric

    Votes: 27 17.4%
  • Depends on price

    Votes: 28 18.1%

Forum statistics

Threads
505,181
Messages
10,579,217
Members
223,889
Latest member
berniceconley
Top