Withheld Tax

How many people are going to use the option of Withheld Tax?

 

im not, why give my money away when the least I can do is make 3-4% interest on it until I have to pay them...

 

I don't see this option?

 

Neither Do I, it would be good if they give us option to opt in. Does google withheld tax ??

 

I believe google does not.

To have your taxes withheld, go to your "Account Information Tab > Tax Information" Then it should be under "Certify IRS Form W-9".

I have some questions regarding withholding taxes. Apparently yahoo automatically opted me into widtheld taxes, because I don't remember checking this. Check my payments, and they took out 30% of my paycheck.

When they withhold taxes, does those withheld payments count towards the government only (national) or does it goes toward State as well?

If we withhold taxes, does this count towards tax day? What about sending in quarterly payments? Do we still have to do that if we hold taxes?

 

Taxes are witheld by default.

They are Federal taxes only.

If they are witholding your taxes, then you shouldn't be making quarterly payments.

 

They took out 28% of my paycheck as well, I think it's because I've earned more than 25k this year.

 

It's 28% across the board. Those who earn a lot simply don't get much back come refund time.

 

im lost, they havent taken any out of mine and it still shows april $ in available balance and total balance. i want my money.

 

So you are telling me that federal takes 30% and then I have to send in 30% to state as well? Or I'm not sure on the exact figures...but that's a big freakin cut!!!!

Are you sure it's by default? They never did it before...just recently when they offered direct deposit.

 

It may be that witholding was "off" by default before, but witholding is "on" by default now.

And state taxes are never as high as the Feds, but your state may take a sizeable chunk of your money if you earn big bucks.

 

in short, you are a slave for the government.

 

Not the goverment, it's a common misconception... IRS is a privately-operated scam. Not like it makes much difference

 

They took up 30% from my partners check as well.
Tell me if you figure out how to block it - so I can tell him how to take care of the texas crap.

 

Just uncheck it.

 

The American tax code is the most unnecessarily complicated system of taxation in the world. And no one has the balls to change it, because of the lobby (tax attorneys who don't want to lose their livelihood.) Bush talked about it, but he won't do it.

It's the same with the debate on drugs: legalizing and controlling the sale of pot would put too many cops and DEA agents out of work.

As always, IMO.

 

Only 28-30%? I've been saving 49% myself since I am "Self-Employed". FICA Tax is awful. Can't wait till I break the FICA cap.

 

Does tax earned adsense applies to publishers outside the USA. I've recently signup for adsense and google has withold my payments until I give my tax information. But I leave in the UK and don't know if I should give me tax details to them.

 

I'm seeing no way to check or uncheck any boxes pertaining to held taxes. I also received my full amount..... I would much prefer to accumulate interest on that money since I have to pay quarterlies any way.

J

 

I have never noticed Yahoo withholding any of my amount.. I have always had that 'exempt from backup withholding box' not checked. I thought I report income to IRS in april after previous year and pay it myself?