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<blockquote data-quote="Commercial Inside Release" data-source="post: 5699131" data-attributes="member: 93336"><p>[URL unfurl="true"]https://www.irs.gov/individuals/tax-withholding-estimator[/URL]</p><p></p><p>Re: 99 allowances </p><p>For a while prior to 2019, the IRS tried penalizing people that claimed too many allowances, in the spirit of the laws focused on estimated quarterly tax. The 10 allowances rule is pretty new.</p><p></p><p>Choose 10 allowances and stick the money in a high yield CD, bond, savings account, or trade with the money... Then give it back to the IRS at the end of the year, but keep the interest\earnings, of course.</p><p></p><p>That's what the treasury does with your money, might as well do it back to them. </p><p></p><p>If you really want to be a badaxe put a credit in your utility account of less than a dollar, then don't pay it for 3-4 months and invest that money, too. A lot of utilities companies are limited to charging 1% for a late fee. You could be making 4-20% with that money, instead of the power company.</p><p></p><p>If your utilities are $300-800\mo that could be $900-2400 to play with... screw 'em!</p></blockquote><p></p>
[QUOTE="Commercial Inside Release, post: 5699131, member: 93336"] [URL unfurl="true"]https://www.irs.gov/individuals/tax-withholding-estimator[/URL] Re: 99 allowances For a while prior to 2019, the IRS tried penalizing people that claimed too many allowances, in the spirit of the laws focused on estimated quarterly tax. The 10 allowances rule is pretty new. Choose 10 allowances and stick the money in a high yield CD, bond, savings account, or trade with the money... Then give it back to the IRS at the end of the year, but keep the interest\earnings, of course. That's what the treasury does with your money, might as well do it back to them. If you really want to be a badaxe put a credit in your utility account of less than a dollar, then don't pay it for 3-4 months and invest that money, too. A lot of utilities companies are limited to charging 1% for a late fee. You could be making 4-20% with that money, instead of the power company. If your utilities are $300-800\mo that could be $900-2400 to play with... screw 'em! [/QUOTE]
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