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claiming allowances on upsers.com
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<blockquote data-quote="BigBrownSanta" data-source="post: 437659" data-attributes="member: 11097"><p>Actually they're different.</p><p> </p><p><strong>Withholding</strong>, in general, usually refers to a deduction of money (as 'withholding tax') from an employee's wages or salary by an employer, for projected or actual income tax liabilities. (Wikipedia)</p><p> </p><p>A <strong>tax exemption</strong> is an exemption from all or certain taxes of a state or nation in which part of the taxes that would normally be collected from an individual or an organization are instead foregone. (Wikipedia)</p><p> </p><p>Withholding is usually taken out of your paycheck, while tax exemptions are claimed on your tax return. Both terms are commonly interchanged although they do not mean the same thing.</p><p> </p><p>Six of one, half dozen of the other...</p></blockquote><p></p>
[QUOTE="BigBrownSanta, post: 437659, member: 11097"] Actually they're different. [B]Withholding[/B], in general, usually refers to a deduction of money (as 'withholding tax') from an employee's wages or salary by an employer, for projected or actual income tax liabilities. (Wikipedia) A [B]tax exemption[/B] is an exemption from all or certain taxes of a state or nation in which part of the taxes that would normally be collected from an individual or an organization are instead foregone. (Wikipedia) Withholding is usually taken out of your paycheck, while tax exemptions are claimed on your tax return. Both terms are commonly interchanged although they do not mean the same thing. Six of one, half dozen of the other... [/QUOTE]
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