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2 answers

Your question is poorly worded. The W-2 is what your employer sends you in February. A W-4 determines your withholding based on the number of exemptions you choose. A deduction is something that goes on your 1040 Schedule A. And dependents (t not d) effect everything.

So, let me take a guess at what your question really is.

Are you asking what the maximum amount of withholding can come off of your paycheck each pay period when you choose Single and 0 exemptions on your W-2?

If that is the question, then the answer depends (d not t) on what your income is. Even claiming Single 0, it is possible that your income will be low enough to not have any withholding. However, you'll have to earn less than $96 per week. As your income gets higher, the amount withheld grows too. Eventually, if you are earning big, big bucks, you will have up to 35% of your paycheck withheld for federal income taxes. Don't forget, you always lose 6.2% for social security taxes and 1.45% for medicare taxes no matter what you put on your W-2 AND your state may also take taxes out too. You may even be subject to SDI, local, or SUI taxes as well, but these are usually not too high.

OK?

2006-10-10 16:14:50 · answer #1 · answered by TaxMan 5 · 1 0

1 yourself unless you are married then its 2.

However I claim ZERO on my w2 because i get the tax refund the following year. I wont get it if I claim one.

2006-10-10 15:49:30 · answer #2 · answered by Anonymous · 0 0

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