How much does an exemption leave in your paycheck?
January 29, 2009 12:05 PM Subscribe
TaxFilter: So I need more monthly income. I'm thinking about upping my exemptions, but I would like to know how dramatically that will effect my tax return. More inside...
posted by AltReality to Work & Money (4 answers total) 3 users marked this as a favorite
I currently claim 0 exemptions on my W-4 form, and I always get a healthy tax return at the end of the year. I am looking to increase my monthly income, and wonder how much would be left in my paycheck (or, how much more would my paycheck show) if I raised my exemptions to 1.
I currently make $45,011.20 / year.
I am paid bi-weekly
Taxes for a 2 week period:
Federal Taxes: 212.16
CA State Taxes: 34.04
Is there any more information necessary to figure this out?