Federal Form W-4 (2008) Why have additional withholdings?

kennith.mccune · Joined: 01 Jan 2008 Posts: 3

Federal Form W-4 (2008)
Line 6: "Additional amount, if any, you want withheld from each
paycheck"

Why would I want additional taxes on my paycheck?

Minor question: I do not work and do not have a spouse. Therefore the
statement "Your wages from a second job or your spouse's wages (or the
total of both) are $1,500 or less." is true? I justify my answer (of
true) because the opposite statement "Your wages from a second job or
your spouse's wages (or the total of both) are **greater** than
$1,500." is false therefore the original statement is true.

Archived from group: us>taxes

Phil Marti · Joined: 25 Aug 2007 Posts: 2520

wrote:

> Federal Form W-4 (2008)
> Line 6: "Additional amount, if any, you want withheld from each
> paycheck"
>
> Why would I want additional taxes on my paycheck?

Having peeked ahead, I can see you wouldn't. This line is most often used
when a married couple both work or someone has a lot of income not subject
to withholding, such as interest and dividends.

> Minor question: I do not work and do not have a spouse. Therefore the
> statement "Your wages from a second job or your spouse's wages (or the
> total of both) are $1,500 or less." is true?

Yes. A single person with only one job and little other income should claim
two allowances. That will result in a small refund or balance due when you
file your return.

--
Phil Marti
Clarksburg, MD

Paul Thomas · Joined: 25 Aug 2007 Posts: 775

wrote
> Federal Form W-4 (2008)
> Line 6: "Additional amount, if any, you want withheld from each
> paycheck"
>
> Why would I want additional taxes on my paycheck?

If you knew that the regular amount of withholding is insufficient to cover
the taxes on your total income. Typically income from rentas, interest and
dividends, or from business profits have the associated taxes paid through
either quarterly estimated payments - or - increasing your payroll
withholding.

> Minor question: I do not work

........then why are you filling out a W-4?

> and do not have a spouse. Therefore the
> statement "Your wages from a second job or your spouse's wages (or the
> total of both) are $1,500 or less." is true? I justify my answer (of
> true) because the opposite statement "Your wages from a second job or
> your spouse's wages (or the total of both) are **greater** than
> $1,500." is false therefore the original statement is true.

Yup.

--
Paul A. Thomas, CPA
Athens, Georgia

kennith.mccune · Joined: 01 Jan 2008 Posts: 3

> > Minor question: I do not work
> .......then why are you filling out a W-4?

I meant that I have not worked in the previous year.

kennith.mccune · Joined: 01 Jan 2008 Posts: 3

> A single person with only one job and little other income should claim
> two allowances.

In my case I can not as I am another individuals dependent and thus
line "A" of
the "Personal Allowances Worksheet" of IRS "Form W-4 (2008)" does not
apply to
me. Therefore limiting me to just line "B" (third bullet) of the
aforementioned
worksheet.

olszkogp · Joined: 04 Jan 2008 Posts: 1

THE ANSWER IS NO THAT IS NOT CORRECT. THE LINE SAID

Enter "1" if:
You are single and have only one job; or.............
You are married, have only one job, and your spouse dose not work;
or..........
Your wages from a second job or your spouse's wages (or the total of
both) are $1,500 or less..........

So in your case the first statement is not true---You do not have only
one job(You have no job)---Enter "0"

Second statement is not true---You are not married---Enter "0"

Third statment is not true----You have no wages from a second job(You
can not claim that your wages are less than $1,500 from you second job
when you do not have a second job), You have no spouse------Enter "0"

Looks like you need to Enter "0"
Sorry

Jim Kingdon · Joined: 25 Aug 2007 Posts: 56

> So in your case the first statement is not true---You do not have only
> one job(You have no job)---Enter "0"

You are supposed to count the one for which you are filling out the
W-4. That is, they mean how many jobs in 2008, not how many last year
(since the form is all about how much 2008 tax will be withheld)..

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