So... I have an interesting question regarding taxes and the preparation thereof. I'm also wondering if anyone has done this. I ordered my Model S and will be picking it up in April. Woohoo!!!
I know what the credit will be and how many weeks until the end of the year. Why couldn't I adjust my federal tax withholding by the credit divided by the remaining weeks in the year instead of taking a check from the IRS for $7500 sometime in 2014?
For example, if I pick the car up in April and there, say, 34 weeks until December. I would divide the $7500 by 34 which would result in $220.59. Could I (or has anyone) adjust my federal tax withholding to 99 and specify the amount to be taken out (which would be the normal amount less $221). I would then return my deduction to the previous amount before next year.
Make sense? My question is for either those that have already done this or have asked about it in the past. I also know that tax laws change throughout years as well. And, before anyone throws this at me, I have a CPA that does my taxes. I just can't believe I would be the first one to consider/do this.
I know what the credit will be and how many weeks until the end of the year. Why couldn't I adjust my federal tax withholding by the credit divided by the remaining weeks in the year instead of taking a check from the IRS for $7500 sometime in 2014?
For example, if I pick the car up in April and there, say, 34 weeks until December. I would divide the $7500 by 34 which would result in $220.59. Could I (or has anyone) adjust my federal tax withholding to 99 and specify the amount to be taken out (which would be the normal amount less $221). I would then return my deduction to the previous amount before next year.
Make sense? My question is for either those that have already done this or have asked about it in the past. I also know that tax laws change throughout years as well. And, before anyone throws this at me, I have a CPA that does my taxes. I just can't believe I would be the first one to consider/do this.