I want to still claim single 0 on my paycheck. I have only seen single or married as a choice in the past and I was always single, even last year. Now there is a single, married or married and claiming single. Do I pick the last one? Does it matter?
Monkeybride
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Re: Tax/paycheck question.
I have always been told you can claim whatever you want on your paycheck (like 10 dependents even if you have none). What you choose comes back to help or haunt you when it comes time to do your return.
I believe that I chose the last choice though because I still want the most taken out of my pay check.
snowprincess805
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Re: Tax/paycheck question.
that would work as long as you do nto have to pay more than a $1,000 - because they will make you prepay the next year - done quaterly
Valentinegirl
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Re: Tax/paycheck question.
Posted by snowprincess805
that would work as long as you do nto have to pay more than a $1,000 - because they will make you prepay the next year - done quaterly
Pay more than $1000 on last years taxes?
Monkeybride
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Re: Tax/paycheck question.
Posted by Valentinegirl
Posted by snowprincess805
that would work as long as you do nto have to pay more than a $1,000 - because they will make you prepay the next year - done quaterly
Pay more than $1000 on last years taxes?
That shouldn't happen since claiming 0 they take out the most, at least that's how I understand it.
Valentinegirl
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Re: Tax/paycheck question.
We didn't owe, we got a refund so I will keep it single 0.
november12003
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Re: Tax/paycheck question.
I have it single 0 too...takes out the most during the year, so I get more back at tax time.
snowprincess805
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Re: Tax/paycheck question.
i meant to hit the quote button - for the second post - if you claim lots of dependents to have more money during the year - or good years with a lot of capital gains
if you owe more than a $1,000 in one year they make you prepay for the next year - it is usually equal to what you paid extra that year and you pay a quarter of the amount every quarter
so filing zero can help you avoid paying if you have stocks or a lot of interest
jen110704
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Re: Tax/paycheck question.
On mine I claim Married but withdraw at the higher single rate
Moehick
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Re: Tax/paycheck question.
We both claim single 0 on our paychecks. It worked out to a big refund this year, so we are happy!
swags1016
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Re: Tax/paycheck question.
We both claim 0 also
nylisa
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Re: Tax/paycheck question.
We each claim 1 so that we get more money during the year and a less of a refund but to us having more money during the year was better.
JimmysBride
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Re: Tax/paycheck question.
Posted by nylisa
We each claim 1 so that we get more money during the year and a less of a refund but to us having more money during the year was better.
Exactly. Plus you aren't giving the gov't an interest free loan when you could be making interest on it yourself.
