Claiming exemption on your W-4 allows you to receive more money from each paycheck because the federal income taxes are not withheld. If your income situation has not changed at all since the prior year, and you had no tax liability for that year, you will most likely have no current-yea...
If you think you might be exempt, you have toupdate Form W-4to indicate that your employer shouldn’t deduct any withholding tax. Your exempt status will only be valid for the tax year in which the form was submit to the employer. If you want your exemption to last another tax year, ...
Make sure you claim all the deductions you can claim. This can be very helpful with tax preparation software or the services of an accountant, but you can do it yourself. If you want to reduce your tax liability, you can also adjust your payroll tax exemption by submitting a new W4 to ...
The IRS Form W-4 is also known as Employee’s Withholding Allowance Certificate. This form requires employee information that includes their Social Security number, their home address, and marital status. Fundamentally, it needs the employees’ personal information. It is important to disclose how m...
I have been asked to sign a W-9 form before agreeing on a contract that would specify what money I would receive for my services. This seems highly unusual to me. Am I right in feeling that the cart is being put before the horse? On many occasions in the past I have been given a...