Im a single mom with 3 kids. Is it better to just put myself as a dependant or add my kids? Please help!!!
2007-05-16 10:38:50 · 4 answers · asked by dolphinlover_777 1 in Business & Finance ➔ Taxes ➔ United States
you are the head of your household and as a single mother, as long as you support and claim your kids, it is likely you will receive a refund regardless of what you claim on your w4 barring you have low to median income. That being said before you trust in our answers do a w4 calculator on irs.gov and that should help you.
Last year if you were in the area of 11,000-14,000 with 2 kids or more you received an earned income credit of about 4500 us dollars, so also take into account what you did last year.
2007-05-16 11:47:04 · answer #1 · answered by reciprocityabound 3 · 0⤊ 0⤋
YOU are never your own dependent. If you are referring to allowances on your W-4 (the form you give your employer to determine withholding), forget any advice you get here AND the worksheet attached to the form. Use the IRS withholding table to account for your entire tax situation.
If you are eligible for the EIC, and you appear to be, you may need to complete a W-5 as well as a W-4. The purpose of the W-5 is to have the refund that would result from the EIC included in your regular paychecks.
2007-05-16 20:16:05 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
This is a question for someone familiar with your whole tax situation. There is not enough information to begin to tell you what to claim on your W-4.
Do you claim your kids on your tax return or does someone else? How much money do you make annually? Do you qualify for any credits?
2007-05-16 17:55:15 · answer #3 · answered by Chaney Lake Girl 2 · 0⤊ 0⤋
depends - ready cash now and no refund claim 4 if you can claim kids on your taxes
want a refund claim only yourself or just claim single
2007-05-16 17:51:27 · answer #4 · answered by Kafskorner 4 · 0⤊ 1⤋