When do I put "1" and when do I put "0"? Like I said I am single with no children and I rent. All of the tax jargon makes little sense to me. Please help! I am starting a new job.
2007-09-17 00:18:51 · 2 answers · asked by Shari H 1 in Business & Finance ➔ Taxes ➔ United States
so long as no one else can claim you on taxes, such as a parent or significant other, if that's the case you both need to talk about who's claiming what at the end of the year. Otherwise, if its just you put 1 for self, 1 for head of household. At the very least you should get 2 for a deduction. If you really like more tax money back at the end of the year claim 0. It means more taxes come out each week but you get that potentially larger return once you file taxes each year.
2007-09-17 00:28:34 · answer #1 · answered by Ravin 5 · 0⤊ 4⤋
I assume you mean a W-4. A W-2 is what your employer fills out and gives you at the end of the year, showing what you made and the deductions.
If you are a dependent of anyone, like maybe your parents, put single/zero allowances. If you aren't, you can put 1 allowance. If you don't have any dependents, then you are NOT head of household for tax purposes - the previous responder is wrong on that - so do NOT put 2 as they advise.
2007-09-17 04:09:22 · answer #2 · answered by Judy 7 · 0⤊ 0⤋