What are Fed Allowances on my paycheck?

Question

Im trying to get a broad definition of some terms on my paycheck because i feel somethings are phishy.
On my current check under the Federal Allowances theres 0 and under GA Allowances theres 0...what do these numbers me...if there were a 1 there what would that mean...Also, what does it mean to have exempt in those boxes?

+ I live in the US

+ So if I claim "1" on my allowances will that mean they wont' take as much tax from my check and I could probably break even with the IRS next year or a owe a small amount?

Answer 1

Federal allowances 0 means that the highest amount of tax is to be withheld from your wages based on the wage amount

Georgia allowances 0, means the highest amount of State taxes are withheld

Exempt means that you are having NO Federal taxes withheld, this could possibly result in you owing when you file your return,


Update response
yes if you claim 1 there would be a bit less taken each pay check depending on what your total wages are you might still have a refund or break even

Answer 2

What country do you work in? Never have had those catagories on my checks and i've worked around the USA