W-2 Question

[Crimson]

I have filled out enough w-2 with employers through the years. I have always been confused at the bottom as to why any one would want to with hold extra tax. Now that I am prettty heavy into my freelance and know I have to pay taxes quarterly, Can I adjust my w-2 to remove that "extra" to pay on my taxes owed for freelancing?

[balou]

You should really ask a professional - tax or financial advisor. If you have extra tax withheld, you won't get that money back until your tax return the following year so it won't help you pay your quarterly taxes until next year. Kind of a strange "savings" plan though. I think you'd be better off saving (and not touching) 30 percent of your freelance income to help pay your quarterly taxes.