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W4 witholding... 1 or 2?

Filling out W4 for new job, Following the directions I came out to a 2 for line 5. Curious what that will do, I know the higher number takes less taxes. I'm wondering what the difference is between 1 and 2. I don't want to put 0, because I need more of the money sooner. But I don't want to be left with a huge surprise to pay. I'm pretty good at saving though. Thoughts?

1 Answer

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  • Anonymous
    10 years ago
    Favorite Answer

    If you are single and your total income is from wages and the wages are less than $40K, 2 is fine.

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