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 What should I claim for allowances my W4 form? "1" or "0". What's the difference?
I was wondering, what's the difference (or what's better)... Claiming "1" or "0" for allowances?...


 What happens if i go exempt for 6 months and the other 6 i go 0 dependents and single?
okay here is the problem this 2006 tax year i put in alot of overtime hours and my check is about 2100.00 every 2 weeks but the problem is that they tax me with like about 600 to 700 hundred every ...


 How to apply for pan card?
I am student of M.B.A. and i have to obtain a pan card but i am not earning any thing now?
how to apply for pan card?




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 Do you have to pay taxes on wholesale items that you sell on ebay.?
I want to purchase wholesale items as a LLC but I wonder if I can take those products and sell them on ebay instead of my online store?...


 I'm a full-time student (and still a dependent of my parents) w/ a part-time job. Should I file a tax return?
I work as a walk-on coach at a high school and a junior high school. I get paid through the district so taxes are automatically taken out of my paychecks. Should I file? If so, how do I do it? I'...


 I have a potentially big tax problem on my hands... Can someone give me some good advice please?
I work as an independent contractor, and basically use my vehicle as my office. Since my job requires me to travel each day, I keep a majority of my work related items in my vehicle. Unfortunately, ...


 Economic Stimulus Payment?? When?
The website/hotline states that it is scheduled to be mailed 6/6 however the notice that came in the mail earlier this week said to expect it by 6/6.
Just curious, which one should we go by??
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 Can my husband who left us in May 07 claim my son on his taxes just because he now pays child support?
He just started paying partial child support in Oct. leaving me high and dry from May until October... he says his lawyer says he has the right to claim my son. Does he? or can I go ahead and efile ...


 Is the Rumor true about H&R Block? If you used H&R Block, your rebate will be mailed no matter what.?
I used direct deposit with H&R Block and I received nothing on the 2nd cause my ss ends 13. I heard if you used them a paper check will be mailed no matter what. I checked IRS site and called the ...


 If your parents pay for a part of your College tuition, can they deduct that from their taxes?
I'm starting in fall and even though i 've received scholarships and grants there is still money that needs to be paid in either the form of a loan or out of pocket. My parents are willing ...


 Which takes more federal taxes, claiming "1" or "0" on your W-4?
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 If you live in IL and work in MO who's income tax do I pay?
If someone works in another state does that person pay the other state's income tax or the one they live in....


 I heard h&r block can get your w2's online somehow, and that you don't need to bring them in. Is that true?
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 What can a non custodial parent claim on taxes?
I have custody of my son and my son's father sees him only twice a month. I have always claimed my son's EIC every year. This year my son's father called and got his social security ...


 Has anyone received there tax check everyone is supposed to get?
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 Do you have to pay a capital gains tax if you are 65 (or older) at the time you sell your home?
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 Tesco taxing me ?
I earn £65 a week before tax and they are taxing me £70 at the end of the month, I am a sixteen year old who is also a fulltime college student only working part time at Tesco. Can they do this ?...


 Tax Rebate Stimulus Checks Ahead of Schedule?
i just read that some people will receive theirs as early as monday.... ( http://hubpages.com/hub/ )

when do you guys think ...


 Can I still claim if Im not earning much ?
Hi if someone does the avon can they claim jobseekers if they do not earn that much ? Thanks for your answers
Additional Details
Im not on jobseekers at the moment, so I dont have to ...


 How many business days should it take to get your federal tax refund by direct deposit?
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Clint B
I've been claiming 0 on my W-4. Would it be wise to change to 1 allowance?
I've been reading on the internet on this, but just need this answered. I am single, one job, and only make around 17-18K a year. I've always filed 0, but would rather have the money in my checks (bi-weekly) and get a small refund. I do not want to owe at tax time though. I know the W-4 adds up to 2, but I would owe money that way. Would I get a small refund if I choose 1? Or should I just stick with 0 and wait on the refund?
                     
 




Ursugardaddy
Rating
I know somebody that makes a lot of money and claim zero but still do not get anything back but owe more more at the start of the year. I do not understand taxes anyway do what you feel is right because you are the one who have to pay that amount back not us so do what you think is better for you. Take Care


Judy1
You'll be OK if you claim one allowance.


ramsheadfc
Clint -- The way I do it is to have just enough withheld to equal my most recent tax bill. That avoids any sort of underwithholding penalty and usually results in me owing a small amount. Use last year's tax tables for your current income to estimate this year's tax bill. From your most recent pay check, see how much you have withheld so far this year. The difference between your estimated tax and the YTD withholding is your target for the rest of the year. Divide that amount by the number of payroll cycles left in the year and that is the amount you want withheld from each check. If that amount is less than what is being withheld with zero, then I would change it to 1 and see how close you get. You can always change it back by filing a new W-4. There is no limit on the number of W-4s you file. -- Clint S.


Jen32
Rating
There is a great tool on the IRS website. irs.gov
Go to individual tax
Withholdings calculator

As long as you have your last paystub handy, it will tell you exactly how many allowances to claim in order to 'break even' come tax time.


Jss
Rating
About the allowances you should claim on W4: http://taxipay.blogspot.com/2008/02/filing-w4-employees-withholding.html


Flyby
I would probably count 1 dependent unless someone else is claiming you. In your income level I doubt that you would owe any income taxes. It is difficult to make a blanket statement without looking at your financial data. Your best bet would be to go to your local IRS office and either speak with them or get one of their tax table publications. That should give you an idea of what you need to do. If your employer is taking out income tax I doubt you would have anything to worry about.


JoJo
Claim 1 dependent, It's your money. Why let the government borrow it?


David V
claim 1 because if you don't your basically giving the government an interest free loan for a whole year.


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