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Enter estimate of your federal adjustments to income and your state deduction

zhshqzyc
zhshqzyc asked
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I am filling a form (Tax FORM)
One item is
"Enter estimate of your federal adjustments to income and your state deduction from federal taxable income"
The other one is
"Enter an estimate of your State additions to federal taxable income(do not enetr the addition for state income tax or the additions for the standard deduction and personal exemption inflation adjustment)


Please see the attached file.
Suppose my salary is $50,000, how to fill the numbers?
Thanks.

NC-State-tax.pdf
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Author

Commented:
Help needed.
I believe 100%, the answers to lines 4 and 7 should be zero.
It's a basic W-4 form.

The actual number you use on the front does not matter.
I used to work construction and many guys who worked 7 days a week, for 5 months, and then not work the other 7 months, would claim 3-4-5-6 exemptions even though they were not married.
They wanted to get the most money on their paychecks as they could, since they were only working 5 months. This was not cheating at all, because when they filed their return at the end of the year, the number of exemptions would have to be reported "accurately" and for a single man, that is 1.

Are you married with kids?
Single?
Married no kids?

If you want your tax refund to be about the same as it has been in the past, then claim 1 if you are single, 2 if you are married and no kids, or 3 if you are married and one child.
If you want you tax refund to be larger, then claim "less."
If you are married then only claim one, and you'll pay more taxes per paycheck. Then when you file at the end of the year, and use the accurate number of 2 (married and no kids) you'll get "back" the extra tax you paid, per paycheck.

It's a way to have more taxes withheld per paycheck, or have less withheld.
In the end it is the same, because you have to claim the accurate number on your year end return.

If you are a new N.C. resident, then just claim the number = to the number of people in your household, and ignore lines 4 and 7 on that worksheet. Just enter 0 for both. Your refund, or taxes owed, will be based on your overall income, personal exemptions, standard deductions, etc.

Is this your first job?
Everywhere you work, will have you fill out a W-4.
It tells them how much tax to take out of your income each pay period.
Claim the accurate number.

Example: You are single. Then claim 1.
When you file your taxes next year, if you get a "big" refund, and you want more of the refund to come in your paycheck, then you could change your W-4 and use 2 not 1 exemption for the year 2012.
If your refund is small, you want to keep using 1 on your W-4.
If you go with 2 instead of 1, you could owe taxes at the end of the year.

Author

Commented:
It is not my first job. Married and one kid.
Also I want to know how about line 1 in page 2. Because
 line 3 = line 1 - line 2

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If line 1 = 0, then line 3 is a negative number.
Only you know the answer to line 2.
$4,400 if head of household
$3,000 if single
$3,000 if married filing separately
$6,000 if married filing jointly  <<<<<

Line 1 is most likely zero.

Did you have itemized deductions hast year, or did you take the standard deduction? (It's hard to come up with $6000 in itemized deductions)
I do not know what your 2009 and 2010 tax return looked like.

If you took the standard deduction, then enter zero on line 1.
If you wish to ask a tax expert, try yahoo answers. I have asked many tax questions there. "the tax lady" will see your question and answer it.

Page 2 is a bunch of noise.
Page 1 line 1, should be 3 because you are married and 1 kid and filing jointly, if that is correct.
If you want a bigger refund at the end of the year then on page 1, line 2, enter the extra amount you want taken out of your pay check each week.

That entire form front and back needs a bunch of zeros, and 3 on line 1 page 1, date it and sign it. Ask yahoo answers and you'll hear from tax experts.

Author

Commented:
I used standard deduction. The problem is that if line 3 < 0, then every line seems to be negative. Is it normal?
And why
Page 1 line 1, should be 3
Suppose my wife has a job.
If she has a job, you still have to decide if you will file jointly and add your incomes together, or file separately.

On line 1 page 1, you can claim 1, and she can claim 2.
Or she can claim 1, and you claim 2.
Or you both claim 1, or 2.
If you both claim 1 each, you'd be getting a bigger tax refund, at the end of the year. If you claim 2 each, your refund would be lower.
The reason is, for both, you have 3 people in the household.
On a W-4 you can claim 0, or 1, or 2, or 8 if you want. You only have to claim the accurate number on your return. I knew construction workers who were not even married and claimed 5 or 6. When it came time to fill out their return, they had to claim 1.

Whether you both file separately or jointly is beyond my tax knoweldge.
One way or the other way, will benefit you more, all depending on each person's tax bracket, etc.
Look at A through F.
Fill in the blanks with the correct numbers. if you do not know the number, enter zero. That makes question 1-14, all be non events.
I'm guessing your line A would be 1.
B would be what your situation is.
C is left blank, since you both are living.
E (leave it blank or enter zero).
F is what they use to determine how much tax they take out of your check.
Your situation determines what you put for line B.
Your wife will answer the same questions on her W-4 at her job.
F on yours, and F on hers should, theoretically, add to 3 since, there are 3 of you in the household.

I'd leave all of 1-14 blank and leave E blank.
I have had 9 jobs over 40 years, and never used the worksheet.
I'm in South Carolina.
Page 1, line F, is all they want to know.
If you file jointly then your tax return, form 1040, will have 3 near the top of page 1. Two adults and one child = 3.
D. Enter the number of dependents (other than your spouse or yourself) you will claim on your tax return

You or your sife has to claim the child.
So, your W-4 will have 1 on line F.
Or if you claim the child, your line F will be 2 and your wife's line F will be 1.
I forgot line D, see above.

Author

Commented:
So the number really doesn't matter, it is a digital game.
Line F is all the IRS wants. That number tells them, how much payroll taxes you will pay each pay check.
So, at the end of the year, theoretically, you would owe no tax, and you would get no tax refund. But, that is in a pefect world, where they take out exactly enough tax each pay check, and all your personal exemptions and standard deductions all work out, to you not getting any refund, and not owing them anything either.

Ask the tax lady on yahoo answers.
I'd complete A-F and leave E blank, or zero, and then your income and other factors that I do not know, will determine how big a refund you get.

You or your wife should have 2 on their W-4, and the other person have 1 on their W-4.
It is too late in the year, for one of you, to submit a new W-4 with your employer.
One of you needs to claim 2 for the work year 2012, and one of you claim 1.
Ask the employer(s) to give you a new W-4 to fill out, so one of you has 2 on line F, and the other has 1 on line F.
You need to consult your accountant and/or tax preparer, to determine whether you should, or should not, file jointly or separately.
It can make a HUGE difference, one way or the other.

Author

Commented:
No, I just got a new job. The form is with new employer, just for me.

Author

Commented:
Many thanks.
well, the tax year ends with your last paycheck here in December.
Who is claiming the child?
If your wife is claiming 2, then for the rest of 2011, put 1 on your W-4, line F, and sign and date it.
If she is claiming 1, and you claim 1, then before your first 2012 paychecks, you need to let one of you fill out a new W-4, and claim 2.

And if you are just recently married, determine your filing status.
If you are not married, you both can file single, or single head of household. If you are married, you have to file jointly or separately and the numbers to determine that are income levels, tax brackets, etc.