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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: rabscuttle385

I AGREE WITH RABSCUTTLE, who said it much more clearly than I might have been able to.


13 posted on 03/30/2010 9:50:19 AM PDT by NEMDF
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To: rabscuttle385

Thanks!

I cut-and-pasted your post and told Jorge to deal with it.


14 posted on 03/30/2010 10:04:27 AM PDT by TheThirdRuffian (Nothing to see here. Move along.)
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