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General Accounting Discussions: Courtesy Withholding Tax

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    • CommentAuthorBrad
    • CommentTimeJun 7th 2007
     
    I live in an Ohio city, but work in another Ohio city. Someone told me that my employer can do a "courtesy" withholding from my paycheck. This courtesy withholding will help me when I file my tax return. I don't understand what this is, or how it can help me. Can anyone give me an explanation?
    • CommentAuthorbandycpa
    • CommentTimeSep 19th 2007
     
    From what few I've seen, it appears that employers can withhold a municipal tax from your wages that equals the tax you would owe to the municipality if you were to file. In other words, you don't necessarily have to file the return, the money is simply sent to the city on your behalf by your employer.

    It can help on your taxes in that you can use state and local income tax withheld as part of your itemized deductions on Schedule A. Of course, it only helps if you can itemize deductions to begin with, but the deduction is there if you can use it.

    Mike
    • CommentAuthorfizzy77
    • CommentTimeSep 28th 2007
     
    as for withholding income taxes by employers - I think you just get your "return" if you process your ITR?

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