Tax allowances Forum
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Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
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Transfer2016
- Posts: 55
- Joined: Tue Mar 22, 2016 10:20 pm
Tax allowances
I know there are some old threads about this, but how many allowances is everyone claiming for a 10 week market paying summer associate job? Using the worksheet on the form gives you like 3, but the IRS calculator comes out to 20.
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favabeansoup
- Posts: 417
- Joined: Tue Nov 17, 2015 1:26 pm
Re: Tax allowances
Take however many you feel like as long as you know your tax return will be a lot less come Tax season.Transfer2016 wrote:I know there are some old threads about this, but how many allowances is everyone claiming for a 10 week market paying summer associate job? Using the worksheet on the form gives you like 3, but the IRS calculator comes out to 20.
I took like 9-10 I think during my summer and that still left me with a nice few thousand return come April of my 3L year. That really helped offset some budgeting problems for me towards the end of my year.
Others I knew took more and basically had no return, and I think they were bummed about it.
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Mickfromgm
- Posts: 144
- Joined: Thu Apr 20, 2017 11:40 pm
Re: Tax allowances
Also, the answer is dependent in part on your spouse's income, if any.
If you are getting a financial grant from your law school, beware that some schools reduce the grant by taking account of a portion of your biglaw summer pay. My school did that to me and I wasn't expecting it. It sucked.
If you are getting a financial grant from your law school, beware that some schools reduce the grant by taking account of a portion of your biglaw summer pay. My school did that to me and I wasn't expecting it. It sucked.
