i am single head of the household and have 2 children what should i claim on my w4?

Question

I dont make a lot of money and like getting a refund in the winter.

Answer 1

If you don't make a lot of money, you should focus on keeping as much money in your paycheck, NOT getting a refund! Making an interest free loan to the government is dumb and doing so on a limited income is double-dumb in my opinion.

If you follow the guidelines on the Form W-4 instructions, you will come up with 4 withholding allowances. That will maximize your paycheck. Since you are on limited income you'll probably qualify for the EIC. Let that be your filing time bonus if you wish but don't let the desire for getting a refund of excess tax paid put you in a growing budget crunch month after month.

If you truly insist on a big refund, just claim 0 on your W-4. That way you'll make a nice large interest free loan to the government for upwards of a year and get it back in Feb or Mar of the next year when you file.

Answer 2

You do realize that a refund just gives you back money that you overpaid, that you could have had during the year in your paychecks.

You are probably eligible for EIC, and that IS extra money given to you that wasn't taken out of your paycheck.

You have three people, yourself and the two kids, so that's 3 allowances. If either or both of them is under 17, so you can get a child tax credit, you could also claim 2 additional allowances for each child under 17, which would give you 5 or 7 allowances. That would give you more in each paycheck, but whatever you get extra, you wouldn't get in your refund - but you would still get EIC when you file.

Answer 3

W4 form is tax withholding for your employer.
When you file your taxes, file Head of Household and claim three exemptions (yourself and 2 kids) plus you must pay and maintain a residence to qualify.

Answer 4

Check with an accountant. Everyone's situation is different.