I am a recent college grad who is working for a year or two before i continue my education. I am single, with no dependents, and do not own a house as of yet. as I rent and work in New York City. I was hoping to increase my week-to-week paychecks (I'm paid weekly) so that I can save more, and have more $ to budget. Currently, my deduction is set to "0." I have been told a variety of things regarding where I should have my deduction; right now, I believe I get too little net money and would rather have less come April but would like to avoid getting nailed. What can I expect? Thank you.
2006-10-29 05:40:14 · 16 answers · asked by Wushogun23 2 in Business & Finance ➔ Careers & Employment
AHA
Well being single is going to make it tougher..
I would only take 1 deduction for yourself.
Taking more than 1 could give you more money now but will probably leave you owing in April!
If you stick ot 1 deduction you will Prob at least not owe and Might get some back...
Living costs are high in NY so I can see why youd rahter have the money now... but there are so many variables I would not risk taking more than 1 deduction.
Good Luck
Wismom
2006-10-29 05:49:33 · answer #1 · answered by Wismom 4 · 0⤊ 0⤋
The ideal number of allowances to claim is the number that will let you break even at the end of the year between what was withheld and what you owe. In your situation, 0 or 1 is probably that number.
You could download tax forms from irs.gov (they'll be last year's so won't be exact, but will be close enough for this purpose) and calculate your taxes - figure out what you'll have taken out by the end of the year at the current withholding rate, and see where you stand. If you're not sure how to do this, email me with your weekly numbers (gross pay, withholding for federal taxes) and I'll figure the federal for you.
If you're close, leave your W-4 as it is. If you're getting a big refund (not likely) up it to 1.
Good luck.
2006-10-29 06:06:21 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
If you change it to 1, it will give a little more money weekly, and a smaller return later on. You should be ok, as long as your employer is taking enough out. Talk to HR, or whoever does payroll...they can run the numbers for you.
2006-10-29 05:49:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
When boredom, depression, or maybe stress causes cravings, find a nonfood way to meet up with them such as going for a walk, calling a friend, going for a bath, reading a book, or doing some yoga.
2017-03-11 18:14:52 · answer #4 · answered by Harold 3 · 0⤊ 0⤋
Cary the motivational photography along
2017-03-08 17:34:56 · answer #5 · answered by Burgess 3 · 0⤊ 0⤋
Any physical activity burns calories from fat
2017-02-07 14:30:41 · answer #6 · answered by Lydia 4 · 0⤊ 0⤋
Go for kettlebell workouts — the average person burns 400 calories in 20 min's.
2016-06-02 19:38:23 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Muscle mass uses up more calories, so include three 20-minute strength-training sessions daily.
2016-04-12 17:35:39 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Remain faithful to an even more lean protein/green plant eating habits
2016-12-25 16:01:26 · answer #9 · answered by Anonymous · 0⤊ 0⤋
To reduce fat you should use up or maybe burn off 3, 500 unhealthy calories per pound
2016-02-22 19:43:08 · answer #10 · answered by Anonymous · 0⤊ 0⤋