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Tax Deductions

Adam · 2016-08-20T01:43:26

If anyone has actual experience with this let me know. I'm spending some of my personal income from my day job into my game company on the side, paying artists. Since those business expenses bring my adjusted income down, I will be paying a lot less in taxes. The payroll company we use at work said they can't just reduce the amount of taxes taken out of each paycheck. I'm wondering if there is any way around this. Otherwise I'm just going to overpay $600/month and have to wait till the end of the year to get that money back.

Games Business and Law Business

Started by dpadam450 August 16, 2016 06:17 PM

10 comments, last by dpadam450 7 years, 11 months ago

dpadam450

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Author

August 18, 2016 02:00 AM

The answer to my original question was that I should increase my allowances on my W4. Being single though I can either claim 0 or 1 allowance. So I'll have to see if that 1 allowance will adjust my taxes according to better hit my estimated payments.

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