i'm currently workin for two different companies right now, both of them pay pretty good...13.00 on one and 14.93 the other. i will be working one of them mon-fri and the other sat and sun 16 hour shifts....can someone tell me how this well effect my taxes and if i'm just making a "tax mistake"....i am claiming one child, but also i help out with my sister's daughter i don't know if i can really claim her. let me know! please! thank you!
2007-05-29 14:24:56 · 3 answers · asked by tamara_attson 1 in Business & Finance ➔ Taxes ➔ United States
Don't claim the child on both W-4 forms or you will end up owing money at the end of the year. Your best bet is usually to claim 0 exemptions on one job, and what you are entitled to per the instructions minus 1 or 2 on the other.
2007-05-29 14:33:19 · answer #1 · answered by Brian G 6 · 0⤊ 0⤋
Having two jobs will probably cause you a problem when you file your tax return if you claim all of your allowances on your W-4. The reason is that each job withholds taxes like they are your only job, but when you file your return, they're added together so the second job ends up taxed where the first one left off - and you only get your exemptions and standard deduction once, not against each job. By the way, when do you sleep or relax? That sounds like a pretty brutal schedule.
It's very unlikely that you can claim your niece. If she doesn't live with you, but does live with her mom, then for sure you can't. Since you don't explain what "helping out" means it's hard to tell.
2007-05-30 01:36:38 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
how old are u?
2007-05-29 21:32:40 · answer #3 · answered by channel 44 2 · 0⤊ 0⤋