2007-08-30 11:20:25 · 6 answers · asked by lorenzo and lily's mommy 5 in Business & Finance ➔ Taxes ➔ United States
do single with 0, or file exempt, but you'll have to pay at tax time.
2007-08-30 11:25:09 · answer #1 · answered by Nicole 3 · 0⤊ 0⤋
You will get more money back each paycheck with Married with 0. Following information will give you a better idea:
Case I: Weekly Paycheck $300. Status Single.
Federal withholdings for W4 allowances 0, 1, 2, 3, 4 are $30, $20, $12, $5, 0
Case II: Weekly Paycheck $300. Status Married.
Federal withholdings for W4 allowances 0, 1, 2, 3, 4 are $15, $8, $2, 0, 0
Case III: Weekly Paycheck $400. Status Single.
Federal withholdings for W4 allowances 0, 1, 2, 3, 4 are $45, $35, $26, $16, $9
Case IV: Weekly Paycheck $400. Status Married
Federal withholdings for W4 allowances 0, 1, 2, 3, 4 are $25, $18, $12, $5, 0
2007-08-30 19:36:13 · answer #2 · answered by MukatA 6 · 0⤊ 0⤋
Single with 0 with have the most deducted out of your check. You need to follow the guidelines on your W-4 so that you pay enough taxes unless you have no concerns about owing the IRS at tax time.
2007-08-30 18:29:09 · answer #3 · answered by towanda 7 · 0⤊ 0⤋
unless you want to owe money at tax time, don't claim more exemptions than there are family members - if UR single, file S-0 or S-1. If married and no kids - file M or S & 0,1, or 2, etc
2007-08-30 19:15:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋
More will be withheld if you show single, or married but withhold at higher single rate, on your W-4.
2007-08-30 19:28:40 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
Married with have less withheld so your paychecks are bigger but your tax refund is smaller.
2007-08-30 18:25:17 · answer #6 · answered by shipwreck 7 · 0⤊ 0⤋