QUESTION
What can we do to reduce the taxes on my fiance's salary?
Asked on Jun 18th, 2013 on Taxation - Colorado
More details to this question:
My fiance makes 25 per hour. He is an architectural metal fabricator/ installer. His current job is a set amount (paid by the footage). But his employer wants to divide the amount ($4000) by 40 hours and tax him on that. That's tax on $100 per hour. Crazy!!!! How can we reduce/ postpone the taxes? Per diem? Bonus? Also, at his normal pay of $25/ hour, he is usually bringing home about $600 week. Child support is taking $2200 per month for 2 kids, one lives with us, the other with an aunt. The mother receives aid, but has neither kid, is this right?
2 ANSWERS
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You can call the IRS and see what is the proper amount of withholding. You will need to talk to a domestic relations attorney. He may be able to get the amount of child support reduced.
Answered on Jun 19th, 2013 at 12:10 AM
Make an appointment with a CPA specializing in income tax planning.
Answered on Jun 18th, 2013 at 12:03 PM