W4 Form Allowances- To claim 0 or 1?
Answers:
i would do a 0 you get back more come tax season. but 1 would b ok, i jus wouldn't go more than a 1. good luck!
you take home more $$ per paycheck when claiming 0 versus 1 but you could end up owing tax at the end of the year. If you are single, then claim one for 1/2 the year and zero for the other half...you should be about even at the end of the year(meaning no taxes owed or no huge refund)
I would use the IRS withholding calculator link below. Input some actual numbers and it will come as close the the best answer as any method aside from an actual tax return. Based on the information in your question, you should claim somewhere between ZERO with $1,000 extra withheld each check and EXEMPT and file a W-5 for advance EIC payments. Yes, I am aware those options include both extremes.
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