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tres · 01-23-2006, 11:58 AM

2 questions for ya...

1- I claim "0" or "1" on my tax for for deductions which is supposed to mean they take the most out of every check. I take an additional $20 out per check just to be sure I don't have to pay at the end of the year. Why do I still end up owing?

2- I currently contribute 3% to my pension. If I understand correctly pension comes out pretax, additionaly the amount you get taxed depends on your tax bracket. Can I contribute more to my pension to the point that i lower myself into the next tax bracket and take home equal or the same amount of money each check?

Tres

01-23-2006, 11:58 AM	#227 (permalink)
tres Insane Location: Long Island, NY	2 questions for ya... 1- I claim "0" or "1" on my tax for for deductions which is supposed to mean they take the most out of every check. I take an additional $20 out per check just to be sure I don't have to pay at the end of the year. Why do I still end up owing? 2- I currently contribute 3% to my pension. If I understand correctly pension comes out pretax, additionaly the amount you get taxed depends on your tax bracket. Can I contribute more to my pension to the point that i lower myself into the next tax bracket and take home equal or the same amount of money each check? Tres __________________ "Its better to be hated for who you are, then loved for what your not" --Van Zant "Tell me and I forget. Show me and I remember. Involve me and I learn."