2007-01-24 09:06:28 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
A single tax payer with no dependent can claim either 0 or 1 exemption allowance. If you have one job, then you can claim 1 allowance on the W4. Some single tax payer like to claim 0 on W4 so they would get a big return when they file. But it is silly to give government an interest free loan for "over" tax withholding.
If you have several hundreds of unearned income (i.e. interest, investment etc), then you may want to claim 0. So you wouldn't owe them for additional taxes on unearned income at the end of the year.
However, if you have more than one job. IRS suggest that you claim 1 on the job that pay more most money and 0 on the other jobs.
Best wishes.
2007-01-24 09:53:55 · answer #1 · answered by JQT 6 · 0⤊ 0⤋
You get one exemption for yourself.
2007-01-24 09:15:44 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋