Im 20 years old and I dont live at home ,my parents don't claim me...So do they take out less money in taxes if I claim myself??
2006-07-14 07:09:40 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Yes. Then less $ is withheld from your paycheck.
2006-07-14 07:13:05 · answer #1 · answered by T 2 · 0⤊ 0⤋
You should claim either 1 or 0. Claiming one means you should pretty much break even - either pay a little bit or get a little bit back at the end. If you claim 0 there will be more money out of your paycheck at the beginning of the year but you should get something back when you file your taxes. If you are making less than $8200 for the year you don't have to file unless you want to get your Federal Income Tax back.
2006-07-14 18:08:08 · answer #2 · answered by ami 3 · 0⤊ 0⤋
I always claim a one that way I don't need to worry about anything and I get a nice tax return.
2006-07-14 14:16:12 · answer #3 · answered by treker518 2 · 0⤊ 0⤋
Yes they do take out less if you mark one rather than zero.
If you mark zero they will take a much larger portion of your check. Only mark Zero if you make more than $30,000 a yr.
2006-07-14 14:13:54 · answer #4 · answered by lildarlinkristisue 3 · 0⤊ 0⤋