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1 posted on 03/30/2010 9:23:41 AM PDT by TheThirdRuffian
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To: TheThirdRuffian
Sure. Fire him and make him an independent contractor. He will then have to estimate his own withholding.

Seriously, the only way to do this is buy having your employee adjust his personal withholding exemptions to a level he finds satisfactory. I'm afraid you are opening a whole can of worms if you do otherwise.

2 posted on 03/30/2010 9:26:34 AM PDT by 1rudeboy
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To: TheThirdRuffian
I have an employee who wants me to withold at a fixed percentage, which I think is probably about what he would owe. I can do this easily with my payroll software, and am quite happy to do it, but the goofy W-4 form doesn't anticipate someone being so tax savvy.

Multiply the employee's wages by the desired percentage and divide by the number of pay periods per year.

Then use the paycheck withholding calculator to figure out the number of exemptions that would result in the desired per-paycheck withholding amount. And remember that, for example, if $60 needed to be withheld per paycheck but X exemptions only provided $50, you could use X exemptions with an additional $10 per-paycheck withholding (per the "additional withholding" on the W-4 withholding certificate).

At least, that's how I would do it. Shucks, it's probably how I will figure my withholding amounts when I start working in late June.

3 posted on 03/30/2010 9:27:53 AM PDT by rabscuttle385 (Live Free or Die)
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To: TheThirdRuffian
Do you have an accountant or someone who does your taxes? Your employee can get nearly a fixed withholding rate by manipulating the W-4 IF the pay scale tends to be more or less even. But if there are big swings in compensation such as payment of bonuses and commissions, it can be nigh impossible.

I believe a signed request from your employee requesting the fixed percentage should be all the CYA evidence you would need. But you'd be wise checking with whomever does your taxes to be sure.

4 posted on 03/30/2010 9:28:22 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: TheThirdRuffian

My accountant just told me to increase my witholding and had a work sheet to show how much.

The employee however is responsible for their taxes. There was a report showing how government employees are over 3 Billion dollars behind in taxes. He maybe just following the government employees example.


5 posted on 03/30/2010 9:29:12 AM PDT by edcoil (If I had 1 cent for every dollar the government saved, Bill Gates and I would be friends.)
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To: TheThirdRuffian

Well, under his/her stated allowances find out how much he owes. If he wants more withheld then enter that amount as “additional withholding” or have him change his allowances/exemptions on his W-4.

What payroll software are you using?


6 posted on 03/30/2010 9:29:52 AM PDT by poobear
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To: TheThirdRuffian

don’t you have anything better to do? I have been asked this as well and the software only let’s me get so close or there about’s.

Tell him that’s it and move on.


8 posted on 03/30/2010 9:32:31 AM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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