Please Help! How Can I Get All My Money In My Weekly Paycheck & Not Have Taxes Taken Out? How Do I Do That?

Question

Please Help! How Can I Get All My Money In My Weekly Paycheck & Not Have Taxes Taken Out? How Do I Do That?

Answer 1

It's possible for income taxes but not a good idea, not possible for social security and not probable for state income taxes.

A much better idea is to fill out a new w4 form and give it to your employer showing the proper amount of tax to be taken out, that way you get the maximum amount during the year and don't run the risk of owing a large amount at tax time

Answer 2

I had a friend give up of his social security number. but he also gave up the benefits that come with taxes, such as, ssi, disability, these come in handy in case of an injury that will not allow you to work, or when you retire. ultimatly he reapplied for his social security number.

Answer 3

Why would you want to do that? Then at the end of the year, when it comes time to fill out your tax return, you will have to come up with all the money you owe the government out of your own pocket! Are you sure you'll be able to discipline yourself to set aside enough funds to pay your taxes yourself when they're due?

Anyway, the way to get less taken out of each paycheck is to fill out a new W-4 with your employer and claim more exemptions than you currently are. That will lower or eliminate the amount of taxes they withhold each week. It won't change the amount taken out for Medicare or Social Security -- those are fixed amounts that must be taken out of everyone's paycheck.

DON'T LISTEN to anyone here or elsewhere who might tell you that you should claim "exempt" on your W-4. There are only certain very limited types of employees who are allowed to claim exempt -- it's illegal to claim that status otherwise unless you truly meet all the requirements. Most people don't.

Answer 4

You can commit perjury by giving your employer a bogus Form W-4.  

Answer 5

Welcome to the real world.  Taxes are a fact of our lives.  

Answer 6

You don't and can't.  You may be able to reduce or eliminate the INCOME tax withholdings by claiming more "allowances" on your Form W-4.  Any social security, medicare, FICA, OASDI, state disability insurance, etc., withholdings are mandated by law and cannot be avoided or reduced, except by either having your pay reduced or getting a job in another state/country.

Answer 7

Visit IRS website and use the withholding calculator to find out how many you can claim on your W4 so you won't owe IRS or have a refund due to you.

www.irs.gov  

keyword: withholding calculator.

Answer 8

Assuming that you're in the United States, your withholding amount is based on the number of exemptions and dependents claimed on the W-4 form. If you had zero tax liability last year (merely getting a refund doesn't count, the "total tax" needs to be zero), you can claim exempt on this year's W-4. You'll still get Social Security and Medicare taxes taken out, there's nothing that can be done about that.

As someone else here pointed out, the ability to claim "exempt" is rare and has very specific guidelines.