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Forum -> Working Women
How many deductions can you claim ?



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ny21




 
 
    
 

Post Mon, Nov 13 2006, 8:43 pm
when you are hired -

I heard you can claim one for each kid

and even your mortgage? Rolling Eyes

the more decuctions the better

less will be taken out of you pay check for each deduction/
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chocolate moose




 
 
    
 

Post Mon, Nov 13 2006, 8:44 pm
tht was years ago, momoftwins.

now, I think you have to have social security numbers for each of them.
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ny21




 
 
    
 

Post Mon, Nov 13 2006, 8:46 pm
my mortgage does not have one! Crying

the kids do !
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chocolate moose




 
 
    
 

Post Mon, Nov 13 2006, 8:48 pm
what does that mean, you claim your mortgage as a deduction?

that's for an accountant to say, not me......
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ny21




 
 
    
 

Post Mon, Nov 13 2006, 9:08 pm
I heard for real you can claim your mortgage as a dedcuction?
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chocolate moose




 
 
    
 

Post Mon, Nov 13 2006, 9:13 pm
not like a kid, though.
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ny21




 
 
    
 

Post Mon, Nov 13 2006, 9:38 pm
can you claim your cats? Rolling Eyes


(just kidding this time )






I have no pets .
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happy2beme




 
 
    
 

Post Tue, Nov 14 2006, 10:03 am
the only difference is if you get your money during the yr or at the end of the year.
If you need it during, then u take off all ur deductions, but I like to get a lump sum at the end of the yr. I take off some of the deductions but not all
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Coke Slurpee




 
 
    
 

Post Tue, Nov 14 2006, 10:17 am
On a W-2 you can claim as many as you want (it doesnt have to reflect the amount of kids/mortgage or whatever you have) - the more deductions you claim, the less your employer will take out of your check and the larger your paycheck each time. You just have to be careful of the # cuz you don't want to owe the IRS during tax returns time.
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Mitzvahmom




 
 
    
 

Post Tue, Nov 14 2006, 10:26 am
Sonni u took what I was going to write.... I can even tell an example..hehe

My ex disillusioned, thought I would come crawling back to him.. He still had all of us on as being dependents on him, he ended up owing quite a bit of money..

As he could not prove we lived with him anymore
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chocolate moose




 
 
    
 

Post Tue, Nov 14 2006, 10:42 am
if you end up owing, and it's more than a certain amount, they take interet AND penalty!

been there, done that!
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