Taxes

[brownmonster]

Excellent advice. I would also advise adjusting your W-4 whenever you change your 401k contribution rate. I recently raised mine to 25% and increased the number of dependents on my W-4 to 9. This will keep my take home pay fairly close to what it was before and the 401k deduction will offset the lower withheld taxes.

I can't say I understand this stratagy.

 

[Brownslave688]

Excellent advice. I would also advise adjusting your W-4 whenever you change your 401k contribution rate. I recently raised mine to 25% and increased the number of dependents on my W-4 to 9. This will keep my take home pay fairly close to what it was before and the 401k deduction will offset the lower withheld taxes.

I prefer the Roth option. I was so happy when they offered that I can make millions and won't ever be taxed!!!!

 

[UpstateNYUPSer(Ret)]

I prefer the Roth option. I was so happy when they offered that I can make millions and won't ever be taxed!!!!

Your Roth contributions are after tax contributions.

 

[UpstateNYUPSer(Ret)]

I can't say I understand this stratagy.

Google "401k withholding calculators".

 

[brownmonster]

I see no need to adjust withholding when increasing contributions. The withholding adjusts itself to the amount of taxable income.

 

[I GOT ONE MORE]

You can only claim the cleaning of your uniforms if you pay to have them done.

How much does it cost at a laundry mat? How many loads per week? Don't forget soap cost.

Use this as your at home deduction guide.

 

[Old International]

Boots, gloves, washing of uniforms, batteries, flashlights- I mange to claim 500-750 dollars a year in "stuff" that I use in the performence of my job.

 

[package]

Has anyone ever gotten audited by the IRS for deducting UPS socks, boots, or gloves? It seems to me that these items are not allowed after reading the IRS publication on miscellaneous deductions. According to publication 529 in order to deduct work uniforms "you must wear them as a condition of your employment, and the clothes are not suitable for everyday wear." UPS socks are not a condition of employment, and gloves and boots can be used in other places outside of the workplace.

If the IRS doesn't care about these deductions, that is great for the drivers

 

[cachsux]

"you must wear them as a condition of your employment, and the clothes are not suitable for everyday wear." UPS socks are not a condition of employment, and gloves and boots can be used in other places outside of the workplace.

Do you wear shorts? Have to have socks to wear them. Gloves and boots? Sitting in my locker as we speak waiting for inclement weather and not accessible to me at any other time.