if you claim 0 does it mean they take less out of your checks?
2007-03-01 11:30:22 · 3 answers · asked by Pink Dreams 1 in Business & Finance ➔ Taxes ➔ United States
Just the opposite. Claiming "0" on your W-4 means they take the maximum.
2007-03-01 11:36:02 · answer #1 · answered by goaltender 4 · 1⤊ 0⤋
The only time you would claim 0 (or 1) would be on the w-4 form at work, right?
If on this form you claim 0 that means you have no dependents and less expenses, so the IRS figures you make more money and of course they take more.
If you claim 1 (which, you can claim yourself), they take less out of your check.
But at the end of the year when you file your taxes (like 1040-EZ), it all adds out:
- If they took more throughout the year, then you will get a larger refund.
- If they took less, you will get a smaller refund and may even owe them some money (few hundred, maybe).
Anyway, hope that helps.
2007-03-01 20:46:49 · answer #2 · answered by netthiefx 5 · 0⤊ 0⤋
check this site out
2007-03-01 20:35:43 · answer #3 · answered by SHAMAAS 4 · 0⤊ 0⤋