What difference does it make when claiming 0 n a W4 form. I have 2 kids should I claim 2 or 3 on the W4. (the paper you fill out before you start working) Can you change the number anytime?
2007-02-19 12:38:24 · 2 answers · asked by CHICK 3 in Business & Finance ➔ Other - Business & Finance
Yes you can change it anytime. The more dependents you have the less federal tax is withheld. If you have trouble saving money you can claim 0 and get a tax refund at the end of the year. It would be better claim you and your dependents and save the extra money your get each paycheck thus collecting the interest on it during the year.
2007-02-19 12:50:09 · answer #1 · answered by justwondering 6 · 1⤊ 0⤋
you can change the number that you claim anytime. I have employees who will have their exemptions really high at the beginning of the year then about midway through the year they lower them. from like 9 to 4. they end up not having to pay taxes and usually still get some amount of refund. but you should really check with a CPA or tax preparer.
2007-02-19 20:47:28 · answer #2 · answered by Judy G 1 · 0⤊ 0⤋