Sometimes I think my company is with holding way too much taxes out of my paycheck. I confronted the human resource manger, and she just said that my last job wasn’t taking enough out. The thing is, I didn’t have a problem doing my taxes last year. Does someone know like a tax deduction percentage formula I can use to see if I am accurate on my suspicion? I work at a hotel, I am independent, and claim no dependents.
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16. February 2010 at 10:47 pm
Visit IRS website http://www.irs.gov and use the withholding calculator.
16. February 2010 at 10:47 pm
Go here: http://www.paycheckcity.com
I doubt your HR manager said any such thing. HR folks are notoriously stupid when it comes to tax issues so if she did, consider the source. She has NO way of knowing how much tax was withheld by your former employer and NO way to compensate for under withholding even if she did.
16. February 2010 at 10:47 pm
The IRS has a Publication 919 “How Do I Adjust My Withholding?” The link is below or you can just search for the publication on Yahoo.http://www.irs.gov/pub/irs-pdf/p919.pdf
This publication has a worksheet you can fill out to determine the appropriate amount of withholding. I imagine that when you started working at the hotel you filled out a W4 withholding form and told the company what to withhold. HR people aren’t supposed to decide what to withhold for you–you tell them what to withhold via the W4.
If you feel the withholding is incorrect you should fix it immediately for 2009.
Good luck in 2009!