How much money will you expect in a paycheck if you claim yourself?

Question

I make $12.97 right now and every paycheck is usually about $849.88, around that. My question is I just started claiming my self in taxes so does any one know how much more I should be expecting in my future pay? I live in PA.

Answer 1

Do you get paid every 2 weeks? Claiming 1 instead of zero would probaby increase your pay somewhere around $10 a week. Federal withholding will change, PA will stay the same.

Answer 2

What a load of bad info! You are legally entitled to claim enough exemptions so that your total tax paid in equals or exceeds 90% of your Federal tax liability OR 100% of the pior year's liability. These are the targets you must hit to avoid penalties for underpayment of tax. As long as you hit those targets, the IRS will NOT come looking for you. A family of 4 with $50,000 in itemized deducitons could probably claim more than 10 exemptions and still not be underwithheld. Employers are no longer required to automatically send copies of Form W-4 to the IRS if 10 (not 8) or more exemptions are claimed. Employers are only required to send copies upon request from the IRS. The IRS will normally only make such a request IF you have paid in less than 90% of your tax liability AND your income is limited to wages subject to withholding. To claim EXEMPT, you must have had $0 tax liability the prior year (that's $0 on the Total Tax line, not just getting a refund) and you must reasonably expect to have $0 tax liability for the current tax year. (If you're a Single taxpayer making more than $8,750, that won't happen.) If you abuse the system, the IRS can direct your employer to withhold at a rate that the IRS decides. (The only Lock-In letter I ever saw stated Single and 0. The guy had a wife and 3 kids, that hurt him badly on payday.) You can also be penalized for filing a false or abusive W-4, up to $500.00

Answer 3

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