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| *The Commerce Journal>>>United States Taxes |
How do I reduce my tax return? |
I recieved a huge tax return this yr. 5 digits. while the amount is like a yearly bonus, i would like to consider reducing the return. I am already claiming 8 and could claim more but heard that more would be a red flag to the irs. I work sales so my income fluctuate drastically month to month. Can I jsut claim 8 half the yr until I get about 7-8K paid in and then file exempt for the rest of the yr? any other ideas? Well, you certainly can't claim exempt because you do have a tax liability. (Has nothing to do with your tax refund, simply that you had taxable income.) You cannot flip to "exempt" because you aren't. No, you can't claim exempt if you aren't, but you can claim more than 8. |
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