I am a single mother...what should i claim on my taxes for them not to take so much. I need that money!!!?

Question

Also...what money do you get back at the end of the year..federal??? Ughh....need some advice.

Answer 1

I am a single Mom and I file zero deductions. But thats because I like to get a bigger tax return at the end of the year. The more deductions you file on your paycheck, the less tax money they take out. But be careful, file too many and you will have to pay in at the end of the year, possibly.

Answer 2

I am a single mother as well. At the beginning of the year i claim single 0. That way they take out as much as they possibly can. Then, when i get low on money I "up" the exemptions. I know that single 1 will make you break even. I got $75 back that year. Then, when you go higher to single 2 or 3, they will take less, and you will owe! I am in HR, so i know that you can change your W-4 as many times as you please throughout the year (provided there isnt a Company Policy to prohibit this). Like I said... I start the year out at single 0. When i get low on money, i up the exemptions to single 2. If im still low on money, i can go to single 3... but dont go higher than that! unless you have more than one child. When you get caught up, you can lower your exemptions back to Single 1 or single 0.
I think the child credit depends on how much you bring home and how many kids you have AND if you claim Head of Household. Im not a CPA, so dont take what i say and run with it... but it will at least give you an idea as to what to ask someone that has more knowledge. Check out the irs site below and click on Individuals, then on IRS Withholding Calculator.
Hope this helps!!! :)

Answer 3

You don't mention quite enough details to help you decide. You may be able to file as Head of Household or as a Qualifying Widow. You might be able to complete a form W-9 for advanced earned income credit. If you're sure you are overpaying your taxes, you can adjust your withholding allowances. To properly answer your question we would need to know a lot more. How much money you make, what kind and how many deductible expenses? Who supports you and your child? How much has already been paid? How many kids do you have?

Answer 4

Work through an estimate of what you are going to owe taking child credits into consideration and adjust your withholding so that just enough is withheld. After child credits, a single mother with two children would have to earn over $35,000 before owing any income tax. If you have child care expenses, the number is even higher.

You will still owe Social Security and Medicare taxes. There is no way around those.

Answer 5

Please give a little more info - would need to know how much you make for the year, how many dependent children and their ages.

At the end of the year when you file your tax return and calculate your tax for the year, if you've paid in too much you get the extra back as a refund. Depending on your income, you might be eligible also for an earned income credit - that can be small, or up in the thousands of dollars.

Good luck.

Answer 6

I would take 4 deductions on your paycheck and wait for the end of the year to see what happens. I usually get a refund.

Answer 7

Are you head of household? That's a nice thing. Also, are you eligible for Earned Income Credit? Do you have the deduction for the kid(s)? If not specified, I thin most states give it to the custodial parent.

Answer 8

dont know