ERD50
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I'm looking into my options for having Fed tax withheld (I prefer withholding to Quarterly payments for several reasons). I start SS this year, and I see that:
www.ssa.gov
I LOL'd at that, but it was a sad sort of laugh. The Feds really can't get their computers set up to accept any whole number percent, or a fixed $ amount(*)? And where did those numbers come from (marginal rates at some point in history?).
And those are large deltas, no way to fine tune your w/h with such large jumps. And since they require you to mail-in or visit to update the amount, it could be tough to try to do one value part of the year, and another for the rest of the year to hit some in-between average.
(*) giving this a bit more thought, it's actually more work to program a computer to accept those four specific values, than it is to accept anything fro 0~100.
To accept 0~100, there is just one test: If ( (WH > 100) OR (WH < 0) ) {SHOW ERROR MSG; RET TO INPUT}
But for
For 7%, 10%, 12%, or 22%, you either need to set up a dialog check box for each of those points (and update it if the values change), or test for each of them, or round to nearest and ask if that's OK. Either way, it's more code.
And once you have the value for WH, the computer just multiplies that by the total $. It's the same code, regardless if it is 1%, 99%, 57% or limited to 7%, 10%, 12%, or 22% - it's still just TOTAL * WH.
Is this just silly/stupid, or am I missing something?
You may choose to withhold 7%, 10%, 12%, or 22% of your monthly payment.
Request to withhold taxes
Submit a request to pay taxes on your Social Security benefit throughout the year instead of paying a big bill at tax time.
I LOL'd at that, but it was a sad sort of laugh. The Feds really can't get their computers set up to accept any whole number percent, or a fixed $ amount(*)? And where did those numbers come from (marginal rates at some point in history?).
And those are large deltas, no way to fine tune your w/h with such large jumps. And since they require you to mail-in or visit to update the amount, it could be tough to try to do one value part of the year, and another for the rest of the year to hit some in-between average.
(*) giving this a bit more thought, it's actually more work to program a computer to accept those four specific values, than it is to accept anything fro 0~100.
To accept 0~100, there is just one test: If ( (WH > 100) OR (WH < 0) ) {SHOW ERROR MSG; RET TO INPUT}
But for
For 7%, 10%, 12%, or 22%, you either need to set up a dialog check box for each of those points (and update it if the values change), or test for each of them, or round to nearest and ask if that's OK. Either way, it's more code.
And once you have the value for WH, the computer just multiplies that by the total $. It's the same code, regardless if it is 1%, 99%, 57% or limited to 7%, 10%, 12%, or 22% - it's still just TOTAL * WH.
Is this just silly/stupid, or am I missing something?