Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Claim one or two allowances?
I'm single with one job. I make 12.75 an hour and wrk 50 hours a week. I claim 0 allowances and too much is being taken out for taxes. I would like to change my allowances on my w4. No one else can claim me as a dependant. Should I claim 1 or 2 allowances?
I do not want too much taken out but I also don't want too less taken out where I would owe taxes. I still would like to receive a refund
12 Answers
- Bostonian In MOLv 74 years ago
Normally if you claim 2 allowances all year you will be close to even money at filing time, usually within $150 either way. Since you have been claiming 0 allowances so far, you will still be looking at a refund at filing time next year.
Starting next January, cut that to 1 allowance if you absolutely don't want to owe a small amount when you file in 2019. If you are OK with possibly owing up to $150 or so, stick with 2 allowances.
- ?Lv 64 years ago
You can't have it both ways.
For a single person with no dependents, 0 will get you a refund. Claiming 1 will get you closer to break-even, but probably get you a small refund. Claiming more than 1 will most likely leave you owing taxes.
- ninasgrammaLv 74 years ago
If you want to get a refund and still get more take-home pay, you can change to 1 allowance. This will give you roughly $40 more per month take-home but reduce your refund by that amount at the same time.
2 allowances will cause you to break even or owe a bit.
- troLv 74 years ago
there is a W-4 calculator at www.irs.gov and I think you will find single 2 is appropriate for you
- How do you think about the answers? You can sign in to vote the answer.
- musicmanLv 54 years ago
You better just claim one, because if you claim 2, you may have to pay in taxes at the end of the year !
- JudyLv 74 years ago
With 2, you could end up owing, or might receive a small refund. Claim 1 to be sure not to owe, to get a refund.
- D JLv 74 years ago
If you want to get money back when you file taxes, file 0. If you want to be as close as you can to what you will really own, claim one. If you want to pay, claim more than one.
- Dan BLv 74 years ago
If you answer the questions correctly on the W4 worksheet, they should be taking out just about what they should so that you don't have a huge refund (more in your paycheck) or have to pay a huge deficit (unexpected expense) when it comes to tax time. Single, no dependents seems to indicate that you should claim 2 allowances.
Source(s): Go to this website and enter the information. https://www.irs.gov/individuals/irs-withholding-ca...