I bought my first home about 6 months ago. I make around 50k per year. I usually claim single 0 on my W4. After I bought my house, I claimed single 2 just so I could have a little more disposable income and put some home improvements in. Now that we're about to get our W2's, I wanted to know if I'm going to wind up owing money to the government because of the switch on my W4?
2007-01-11 01:55:00 · 2 answers · asked by Snuggles123 4 in Business & Finance ➔ Taxes ➔ United States
No dependents, single claiming 2
2007-01-11 06:13:29 · update #1
No additional income. In sales making salary plus commissions.
2007-01-11 06:14:11 · update #2
You didn't give enough information to answer your question. Do you have any dependents? What is your filing status? Any other income? Will you have enough home mortgage interest to itemize your deductions? If you don't have any, chances are you could end up owing some. You need to take all your documents to a tax professional to get a better estimate.
2007-01-11 02:01:38 · answer #1 · answered by Fool in the Rain 6 · 3⤊ 0⤋
How many dependents? If Married should have at least been M3 which is a lot less withholding than S2 so still refund which is bad. No interest free loans to govt!
2007-01-11 02:41:52 · answer #2 · answered by vegas_iwish 5 · 0⤊ 0⤋