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How To Owe Nothing On Your Federal Tax Return

Posted by kristobaldude on August 13, 2012

How To Owe Nothing On Your Federal Tax Return

How To Owe Nothing On Your Federal Tax Return

via How To Owe Nothing On Your Federal Tax Return.

Do you struggle to pay your taxes in April? Or, do you have the money, but hate waiting until your forms are filled out before you know how much you’ll have to pay? Many people don’t realize that it is fully within their control to determine how much they will owe or how much of a refund they will receive at tax time. 

TUTORIAL: Investing 101

The way you fill out the W-4 form that you turn in to your employer determines how much tax you will have withheld from each paycheck, which determines how much you will ultimately owe or be refunded in April. What you may not know is that it’s possible to submit a new W-4 form to your employer whenever you want – it’s not a one-time thing that you do when you first get the job. (For more on income taxes, see our Income Tax special feature.)

If you don’t want to owe anything, but you also don’t want to overpay taxes and give an interest-free loan to Uncle Sam, read on to find out how to get your tax bill or refund closer to zero before tax times approaches …

Read more: http://www.investopedia.com/articles/taxes/08/owe-nothing-federal-tax-return.asp#ixzz23SWZ0JMf

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