Gblock;627859 wrote:Also w coaching stipends and the larger check you end up giving uncle Sam an interest free loan in taxes on the 21 pay plan

Manhattan Buckeye;627872 wrote:Ideally yes, however some employers won't allow employees to increase their deductions other than exemptions for their spouse and dependents or on the other hand without significant evidence that the exemptions are legit. Public employers tend to restrict how much their employees can withhold.

Private employers likely don't care, as long as there is no fraud or any other hanky panky.

Gblock;627878 wrote:.... I find w the 26 pay plan and I claim zero I usually UBS up getting back 800-1000 bucks.....however in my earlier days I got screwed a few times and owed 2400

Con_Alma;627884 wrote:I'm not sure public employers can restrict you from doing so either. They might be able to give you a hard time about it but at the end of the day can an HR person dictate what your withholdings are? Isn't that tax advice that they are not qualified to provide?

Con_Alma;627879 wrote:O=trap in the current state of things I agree but one must choose how to get paid and if you are not going to be better off with one plan or the other what makes a person choose the 26 payment plan?

I have seen someone complaining about giving the gvt an interest free loan if the overpay in taxes yet they are willing to give their employer the same thing. It's quite interesting to see how people go about managing cash flow to me.

O-Trap;627924 wrote:... but others, again, might like the safety net.

Con_Alma;627913 wrote:The payroll expense would be greater than a 21 pay plan would it not??

I know we pay our employees monthly because it's a lower expense for us.

Gblock;627934 wrote:Well this year It looks like I'm going to owe about 350 bucks because I got divorced may of 09. Up until June they were taxing me as if I was still married and I then claimed 0 so they would take as much as possible because at that point I would've owed probly 3000. But I actually can claim 0 because I'm single no dependents. As for next year I still need to figure out what to do. I separated from my wife in 05 and we have mostly filed jointly unless she was mad which worked out for me all but one year when I had to pay 2400. Now that I'm single again ill prolly change it to 1 for next year

bigkahuna;627953 wrote:Did they tax you as married because you filled out your W-4 as such?

I know after I got married, I immediately updated mine to Married, but tax me at the higher single rate. I was afraid of getting in a situation where I had to pay back like you do. My wife did the same. My check is a little smaller than usual, but we typically get a good hunk of change back at the end of the year.

bigkahuna;627953 wrote:Did they tax you as married because you filled out your W-4 as such?

I know after I got married, I immediately updated mine to Married, but tax me at the higher single rate. I was afraid of getting in a situation where I had to pay back like you do. My wife did the same. My check is a little smaller than usual, but we typically get a good hunk of change back at the end of the year.

Con_Alma;627958 wrote:Yeah, I don't want to sound preachy but I'm trying to see how others are coming to the conclusion that it's better not to pay.

queencitybuckeye;627967 wrote:It's amazing the "logic" people use in this area. My wife's cousin doesn't want her husband to work voluntary overtime because it puts them in a higher bracket and reduces their refund. She counts on getting that check in the spring.

bigkahuna;627969 wrote:There is a smaller chance of having to pay at the end of the year and a greater chance of getting something back.

...

Con_Alma;627941 wrote:The safety from what?? What safety do you see someone receiving from a 26 pay plan vs a 21 pay plan?

queencitybuckeye;627967 wrote:It's amazing the "logic" people use in this area. My wife's cousin doesn't want her husband to work voluntary overtime because it puts them in a higher bracket and reduces their refund. She counts on getting that check in the spring.