I moved out of my parents house in September 2006, and it is now May 2007, so it will be a full year of being on my own in September. They claimed me for last years tax season (because i lived there most of the year), but I think I need to change my W2 so I can claim myself. I work full time, and I'm not going to school. I'm 19, and make about 22,000 annually. How should I file my taxes? And will I probably owe next year? THANK YOU soo much!!
2007-05-15 07:10:08 · 3 answers · asked by shelb 2 in Business & Finance ➔ Taxes ➔ Other - Taxes
you should claim yourself.
if you are not a full time student , by law your parents can no longer claim you with that kind of income, so you are truly on your own now.
2007-05-15 07:54:48 · answer #1 · answered by Jo Blo 6 · 1⤊ 0⤋
You are correct, they won't be able to claim you for 2007, so you could change your W-4 to take an allowance for yourself. Whether you make that change or not, you can claim your own exemption when you file your tax return for 2007 - if you change it, you'll get a little more in each paycheck, but it all evens out at the end of the year when you file and either get a refund or have to pay.
Your total federal income tax liability for 2007 will be around $1650. If you have more that that withheld during the year, the extra will be refunded to you. If you don't have enough withheld, you'd owe the balance with your return.
2007-05-15 15:24:33 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
You should change your W4 to 1 presumably you claimed 0 before. And depends on how many you claimed before when you were at your parents which should be 0, you should not owe.
2007-05-15 14:16:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋