Start Your Divorce Today - Premium Divorce Online

Page 2 of 2 < 1 2
Topic Options
#11662 - 04/09/05 01:33 AM Re: Whew....yeah that's what happens for me [Re: aussie928]
overtherainbow Offline
enthusiast

Registered: 10/23/04
Posts: 268
Loc: New England
"since you work (and have taxes taken out) it should never apply to you." That is not correct. If you are getting substantial alimony (because you were married a long time to a high wage earner) and you have a low paying job chances are you are not having enough withheld from your wages to cover 90% of your tax liability EVEN THOUGH YOU ARE WORKING AND HAVING MONEY WITHHELD. You have to do a rough calculation on the salary plus alimony minus exemptions and credit to arrive at an expected AGI/ tax liability and make sure you are paying in 90% of tax liability either on the W 2 or quarterly. If you are self employed ya gotta be somewhat of a clairvoyant cause ya gotta estimate what your earnings are gonna be. Also not that we care, cause this is a women's issue thread the ex cannot deduct spousal unless it is court ordered temp or permanent. Or you do not have to claim it unless it is court ordered spousal.

Top
#11663 - 04/09/05 02:43 AM Re: Whew....yeah that's what happens for me [Re: overtherainbow]
aussie928 Offline
old hand

Registered: 10/29/04
Posts: 969
Loc: Dallas
Luv..it is correct as I was speaking to Melody..about Melody.. ...I know what she does..is this alright??

Top
#11664 - 04/09/05 06:00 AM Thanks, aussie [Re: aussie928]
Melody Offline
Carpal \'Tunnel

Registered: 06/03/04
Posts: 10102
Loc: California
I appreciate you having such a good memory of my situation. Yeah, I guess I've always had too much held out. The first year I had quite a bit of taxes to pay, but now I realize that I could claim quite a few more exemptions to lessen my refund amount. I kind of like getting that big check though...like a bonus.

Top
#11665 - 04/10/05 05:02 PM Re: Thanks, aussie [Re: Melody]
overtherainbow Offline
enthusiast

Registered: 10/23/04
Posts: 268
Loc: New England
Kind of like a bonus? No way. If you have that much of a refund basically the IRS is sitting on your money all year for no reason. That's your money that could be earning you interest or dividends if it was invested. You need to use a W-4 planner to determine the correct number of exemptions to list on your w-4. You need to change the number exemptions on your W-4. I just don't want other readers out there to think that having a large (thousands) refund is a good thing. No it isn't. It is poor money management.

Top
Page 2 of 2 < 1 2

Moderator:  dsAdmin 


Resources & Tools
Start Your Divorce Online Start Your Divorce
Several Options to Get Started Today.
Divorce Tools Online Divorce Tools
Keeping it Simple to Get the Job Done.
Divorce Downloads Download Center
Instantly Download Books, Guides & Forms.
Divorce and Custody Books Discount Books
Over 100 of the Best Divorce & Custody Books.
Negotiate Online Negotiate Online
Settle your Divorce and Save.
Custody and Support Tracking Custody Scheduling
Make Sure You Document Everything.

Easily Connect With a Lawyer or Mediator
Have Divorce Professionals from Your Area Contact You!
Enter Your Zip Code: