View Full Version : Financial Gurus: Changing one's tax status for overtime pay
07-27-2001, 06:39 PM
I work in a hospital and get a lot of OT. Unfortunately it gets eaten up in taxes. One of my colleagues recommends I change my tax status from claiming one exemption to claiming as many as 9, and then changing it back when the work week normalizes. I say that in the end, it makes no difference. I claim one and file short form. What say you all?
07-27-2001, 06:43 PM
It makes no difference in the sense that in April, the amount you paid over the past year would be the same.
07-27-2001, 06:44 PM
that is, the amount you paid over the past year plus the check you sent them in april (or minus the check they sent you) would be the same.
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