I am single and no one can claim me. I have heard it is best to claim 1 or 0 from different people. I appereciate any assistance in order to get the most out of my returns. Thanks.
2007-02-25 10:23:46 · 3 answers · asked by cmiamib 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
If this is your only job and only source of income, you can safely put down 1 for witholding on your W-4. If you work another part-time job or have unearned income such as dividends or interest, you will want to put down zero to avoid having to pay in. Also, if you have received any unemployment compensation before you started this job and taxes were not witheld (and they usually aren't), you will want to use 0 to have more witheld. If you find that at the end of the year, you are getting a huge refund, you can always increase your witholding number and have less money witheld.
2007-02-25 12:45:14 · answer #1 · answered by Doe 3 · 0⤊ 0⤋
The best thing for you to claim is 0 to see how the year goes. If you want a larger refund you would claim 0. If you think that you will need the money during the year claim 1 but keep in mind that if you make too much you will have a chance to own money it might not be much but you'll owe.
2007-03-01 14:40:45 · answer #2 · answered by maria169 2 · 0⤊ 0⤋
If you claim single with 0 allowances, you'll probably pay in too much, so your paychecks will be a little lower, then you'll get the extra refunded to you next year when you file your return.
If you claim single with 1 allowance, you'll probably be about even when you file your return next year.
The total amount of your taxes will be the same either way, the only difference is whether you're paying in extra, then getting it back.
2007-02-25 18:30:34 · answer #3 · answered by Judy 7 · 0⤊ 0⤋