I'm getting a big bonus at work and I'd rather not let the government take nearly half.
2006-09-07 06:57:34 · 5 answers · asked by HatTrick1706 1 in Business & Finance ➔ Taxes ➔ United States
Considering that you're single and have no dependents, then technically speaking you can only claim yourself. However, if you decide you want to keep a little extra for yourself instead of it all going to Uncle Sam, you can claim whatever you want, typically to have no taxes taken out, you should claim 6. However, be aware that when it comes time to do your taxes, you will still have that money included in your earned income and will be taxed at your single rate. If you're in a place where you need the money now, then I would go ahead and change my W4 form to get it, but keep in mind that you will have to pay taxes on it in just a few months, so is it really worth it?
2006-09-07 07:17:46 · answer #1 · answered by Sandi A 4 · 0⤊ 0⤋
You can claim yourself and anyone else (human) who lives in your household, is supported by you, and is not entitled to claim themselves. It's six of one and half a dozen of the other, anyway--you'll either get more money now if you claim several deductions, or more of a refund at tax time if you don't.
2006-09-07 14:06:25 · answer #2 · answered by cross-stitch kelly 7 · 0⤊ 0⤋
Like sandi said, only when it comes to taxes, you will have to pay that part u took out earlier.
2006-09-07 15:58:33 · answer #3 · answered by csabrinam 3 · 0⤊ 0⤋
Only one exemption.
2006-09-07 14:41:22 · answer #4 · answered by Mr.Morgan 4 · 0⤊ 0⤋
10 people, but be careful when you file income tax return
2006-09-07 14:06:06 · answer #5 · answered by Hoa N 6 · 0⤊ 0⤋