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mas_appraisals | I recently had a child...is there a form to fill out to claim her as a dependent? Also, will this change the? |
I recently had a child...is there a form to fill out to claim her as a dependent? Also, will this change the way I am currently taxed on my paychecks?......will my paychecks be larger?
Thanks
Additional Details
If my paychecks are about 5,000/month what will the additional income by adding the second dependent? |
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Fo Sho!
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Yes you need to talk to you employer and fill out a new w-4 form, and claim her as your dependent. This will alter your checks just a bit, not much. They will take less taxes from your checks. Congrats! |
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Gary
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When you filed your income taxes for 2007 you will be adding the child and claiming a personal exemption. You will need a social security account number for the child. The IRS will later check with and verified it with Social Security Administration later on. Normally having a child will not affect your paycheck unless you change your allowances on your W4 form Line 5. Talk to your payroll clerk. |
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arklatexrat
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You will need to file for a social security # for the child. I think they give you the forms for that while you are in the hospital.
Also, you need to notify your employer and change your W-2 exemptions if you want your withholding changed.
Then, next year, when you get your tax return form, you use the SS# to claim the child as a deduction.
If you have health insurance, you also need to make sure they have added the child to the policy if you are adding coverage. (If you have a group health policy through your employer, check to see if dependents are covered and/or how much it will cost you to add the child.)
Other than that and keeping several official copies of the birth certificate, that's all the documentation you need (that I can think of.) |
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stephenweinstein
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If you want larger paychecks, you give a new W-4 to your employer.
Whether or not you do that, you claim her as a dependent on your 1040 form when you file your tax return. |
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Tina J
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Talk to your employer and fill out a new w-4 form. When filling out your tax forms for this year, you can claim her as your dependent. Also, you will need to get her a Social Security Number. |
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cfursa
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If you are single and you get paid 5000 a month, claiming zero they would withhold $911, claiming 1 $841, claiming 2 $770. If married and claiming zero $589, claiming 1 $547, and claiming 2 $504. Also your SS and MED for 5000 would be $382 |
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Paul Ding
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Nobody's answering the question. YES, THERE IS A FORM.
You will need to obtain an SS-4 form and send it in, or you cannot claim her as a dependent, UNLESS you (and she) are Amish.
You can get the SS-4 form by calling 1-800-IRS-FORM. You can also obtain the form at any local IRS or SSA office. This form is not available for download. When you send in the form, you are required to provide 2 forms of identification, one showing identity, and one proving date of birth. |
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curmudgeon
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tell your employer you want to add another exemption to your W-4. Yes, you get more $ each check. |
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worldstiti
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it is a W-9 you can get it from HR since it is so late in the year and you have paid 10 months worth of taxes without her you might get a refund on your taxes when you file. talk to HR about how much more you will get - they have tables for that |
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Judy1
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You can claim an additional exemption on your W-4 - that would lower the amount taken out of your paychecks. Other than that, there's no form to fill out - you'll just show her on your tax return when you file it.
With that income you are probably in a 25% bracket, so your savings for the extra exemption will be a little over $800, plus $1000 for the child tax credit. |
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Kawaii
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yeah you can ask your HR for the W-4 to chang your dependant status. your checks will be larger... or you can wait and get more money when you do your taxes at the end of the year. |
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bud68
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You don't get "additional income." You can, however, adjust your income tax withholding rate. You claim the exemption for your child on your income tax return. |
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Deano
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you could leave as is and wait to year end when you file your federal/state taxes. To make the changes, go to your Payroll/HR department and fill out another W-4 and the one for your particular state form to make changes on your next payroll check. (I'd wait so you may gain more on year end). To see the changes as to how much, go to www.paycheckcity.com to check this out. I use this site for small businesses and it allows you to check for free and paycheck when you enter the asked data and deductions.
Hope this helped.... |
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