What should I claim ???

Question

I will be working for about 6 weeks and need to know how i should file so that the least amount of taxes are taken out .

I am single and I take care of my grandmother ..

Answer 1

If your work assignment is only for six weeks, how you fill out your W-4 isn't very relevent.

If you have one dependent, fill it out as "single" and "two". Then if you qualify for extra credits or deductions, or for the filing status of Head of Household, you may get a refund. Otherwise, you should break even.

Answer 2

If you can be claimed as a dependent, then if you're going to make undero $5350 in those 6 weeks and that will be your only income for the year, then you can claim "exempt" and no income taxes will be withheld. If you can't be claimed as a dependent, then you can claim "exempt" on your W-4 if you will make under $8750 for the year.

If you will make over those amounts, then claim single/zero if you are a dependent, single/1 if you aren't.

Answer 3

The federal tax filing requirement is as under
1. For Single Dependent (some one can claim you a dependent) it is $5,350.
2. For Single (no one can claim you a dependent) it is $8,750.
If in the year 2007, with just 6 weeks of job, if you expect to make less than the filing requirement, then on your W4 you can claim maximum allowances.

Answer 4

The more exemptions you claim, the less taxes are withhold. It is a bad idea to claim more than you are entitled to: first, you will have to pay back the money by April 15; second, there is a penalty.

Answer 5

Claim one throughout the year. Claim two when you file your income taxes.

Answer 6

When you complete your 1099 you should check "one dependent" or however many you are entitled to. Of course, if you have status as "single head of household" the withholding rate will be different. For more information, see FAQs at irs.gov