I am 18,single, no kids, and 1 job and live in Washington state.
2006-11-15 15:24:36 · 12 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
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2006-11-15 15:26:15 · answer #1 · answered by *sexy_gurl* 1 · 0⤊ 2⤋
1
2006-11-15 15:25:13 · answer #2 · answered by ? 7 · 0⤊ 1⤋
I am assuming you are referring to the W4 form you fill out when you start employment. Going through the questions on the form and the facts you stated, you would claim 2 _allowances_ on the form. This is not to be confused with "exemptions" when you fill out your 1040 form to file at the end of the tax year. A single person with no kids has one exemption to claim on their 1040 form. The W4 form is to claim withholding allowances, which is used to calibrate the amount of taxes withheld from each paycheck so that the total amount withheld during the year is close to the amount of taxes actually due on the income received. If you work for a full year, with no change in salary mid-year, a single person with no dependents and one job claiming 2 allowances on the W4 form will have just about the right amount of tax withheld. If you have no other sources of income (bank savings interest, investment income...), this will lead to either a small refund or a small amount due. Claiming less than 2 allowances on the W4 in your situation will increase the amount of tax withheld.
2006-11-16 04:48:19 · answer #3 · answered by mliu327 2 · 0⤊ 0⤋
If you put S-0 you are stating that you are single and have 0 dependents.
If you put S-1 you are stating that you are single and have 1 dependent. (The 1 is yourself) At the end of the year when you file your taxes you will claim Single and 1 dependent (yourself).
More dependents - Less Tax - Good Luck!!
2006-11-15 15:31:39 · answer #4 · answered by mom 4 · 0⤊ 2⤋
if you are single that is putting you in a higher tax bracket so you will be better off in the long run to put 1 you want them to take out the taxes so you do not have to pay at the end of the year. It is much better to get some back then have to pay in.
2006-11-15 15:26:30 · answer #5 · answered by Autumn 5 · 0⤊ 1⤋
If you put in "0" they will take the most tax out of your check, but it will maximize your return. If you put in "1" it will just take out the tax for you. Anything higher and you could be paying at the end of the year.
2006-11-15 17:05:49 · answer #6 · answered by Anonymous · 0⤊ 0⤋
you're always safe by putting S-0. this withholds the maximum amount of tax from your paycheck.
are you claiming yourself on your tax return or do your parents still claim you? if your parents still claim you, you should use S-0. if youre going to claim yourself use S-1.
2006-11-15 20:18:36 · answer #7 · answered by tma 6 · 1⤊ 0⤋
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2016-12-10 09:59:38 · answer #8 · answered by hergenroeder 4 · 0⤊ 0⤋
if you want more tax withhold for you by your boss then you put in "0"
if you want less tax withhold for you by your boss then you put in "1"
if you earn more than 5000.00 or less then it is 1, if you earn more then 5000.00 then it is 0
got it?
2006-11-16 00:12:28 · answer #9 · answered by Kenshin 5 · 0⤊ 0⤋
i would say 1
2006-11-15 15:26:26 · answer #10 · answered by Luckys Charm 4 · 0⤊ 1⤋
Listen to tma. Couldn't have put it better myself so I won't bother.
2006-11-17 00:42:57 · answer #11 · answered by skip 6 · 0⤊ 0⤋