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Need help filling out W-4 Form...

So I am starting a part time job and need to fill out this form. I haven't worked in several yrs, so during that time, my ex husband was claiming our son on his taxes. My son lives with me and always has, im single and living in my own apartment..Me and ex husband have agreed that once i got a job, we would switch off every yr claiming our son..not sure if that is the best solution or not, but what is the best way to fill out this W-4 Form?

Answer Question
 
Anonymous

Asked by Anonymous at 10:05 AM on May. 14, 2013 in Money & Work

Answers (9)
  • You can claim 1, 2 or 0. If you claim 2, you will have less money held out of your check each pay period. However, you will also get back less on your taxes. So, you can have the money now, or at the end of the year. If you claim 0, they hold out the most money on your check each week and then you will get more back at the end of the year. It depends on how you want it. I want more money each week, I could care less about getting it back at the end of the year.
    m-avi

    Answer by m-avi at 10:15 AM on May. 14, 2013

  • I'd claim 1. If you claim 0 you could end up owing money which if it's a year your ex claims your son could easily happen. If you claim 2 then you are allowing the government to use your money interest free for a year.
    baconbits

    Answer by baconbits at 10:47 AM on May. 14, 2013

  • I would claim one also for the same reasons as above
    missanc

    Answer by missanc at 11:43 AM on May. 14, 2013

  • baconbits has it backwards.

    if you claim 0 - federal TAKES the max amount out of your paychecks (=smaller paychecks each pay period but if you claim ds on your tax return you'll get quite a bit back)

    if you claim 2 - federal takes less than they would at 1 or 0 out of your paychecks (=larger paychecks but if you DON'T claim ds on tax return you'll owe a bunch, if you do claim him you shouldn't owe anything or very little)

    Federal allows you to claim up to 5 dependents, but unless you claim 5 on your tax return you'll owe a bunch!
    The W-4 form is just for estimated withholdings - if you claim wrong it will come out in the wash come April 15th, they won't throw you in prison if you get it wrong on the W-4
    daylily888

    Answer by daylily888 at 12:00 PM on May. 14, 2013

  • And FYI if you are the one who primarily cares for your son, YOU Should be claiming him EVERY YEAR. (Including these past years!)
    PartyGalAnne

    Answer by PartyGalAnne at 12:04 PM on May. 14, 2013

  • If you don't want to change your W-4 every year then claim 0 or 1. That way you won't have to worry about paying on the year's your ex claims your son.
    kmath

    Answer by kmath at 12:15 PM on May. 14, 2013

  • Unless it is by court order that you claim every other year, you are entitled to claim every single year.
    Dardenella

    Answer by Dardenella at 12:37 PM on May. 14, 2013

  • and PartyGalAnne and Dardenella are also correct. If he lives with you full time, you have every right to claim him every year - income or not. If it's not court ordered that you alternate years and if you don't both share equal time with him, the law is on your side.
    daylily888

    Answer by daylily888 at 1:20 PM on May. 14, 2013

  • daylily is right. I was thinking way backwards! Of course I actually thought it was the 29th tomorrow as well so if that gives you any indication of how my day is going......
    baconbits

    Answer by baconbits at 3:22 PM on May. 14, 2013

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