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about how much do you average back in your paychecks by claiming a house?
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raken40
soooo in love:)
Member since 5/05 4369 total posts
Name:
Karen
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about how much do you average back in your paychecks by claiming a house?
and whats your approximate combined salary?
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Posted 6/30/05 9:44 PM  |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: about how much do you average back in your paychecks by claiming a house?
You can't claim a house on a W-4 to increase your take home pay, only dependents...the real estate taxes & mortgage interest are deductions on your tax return so you get a bigger refund when you file your annual tax returns.
Message edited 6/30/2005 10:29:12 PM.
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| Posted 6/30/05 10:27 PM |
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raken40
soooo in love:)
Member since 5/05 4369 total posts
Name:
Karen
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Re: about how much do you average back in your paychecks by claiming a house?
okay...so i think i'm getting this wrong... About how much do you average to get back at the end of the year?
There is a way to change your w4 to not withold as much each paycheck, so that your paycheck is more and then you just dont get back at tax time?
does that make sense?
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| Posted 6/30/05 11:14 PM |
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KaRiSsA
~*~*~*~*~*~*~
Member since 5/05 4646 total posts
Name:
KARISSA
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Re: about how much do you average back in your paychecks by claiming a house?
It's very hard to to average how much taxes you get back. It depends on a lot of different things. We tried to estimate and weren't close so I wouldn't excpect a lot or a little. You never know.
Message edited 7/1/2005 8:39:10 AM.
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| Posted 7/1/05 8:37 AM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: about how much do you average back in your paychecks by claiming a house?
You could try running an estimated tax return for 2005 with the additional deductions from the house and see what you end up with.
The IRS & NYS Dept of Finance websites have the forms, tax rates & withholding tables you can reference.
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| Posted 7/1/05 9:17 AM |
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lily
LIF Infant
Member since 5/05 164 total posts
Name:
L
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Re: about how much do you average back in your paychecks by claiming a house?
there really are so many factors that go into how much you get back so it's hard to say. we always got money back, but last year after we bought our house we ended up owing money.  Hopefully next year we'll do better! 
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| Posted 7/1/05 9:47 AM |
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