How many exemptions do you claim? - Off Topic - The Rest... - Survivor Sucks - Message Board - Yuku

logobottom

Home | FAQ

0 Kudo

<< Previous Topic Next Topic >>

How many exemptions do you claim?

Started By	Comment
StaredownSally	How many exemptions do you claim?	Lead	[-]
Posts: 724 (12/02/08 3:11 PM) Reply Quote More Recent Posts Message Connection Block Invite	i understand the thought process behind claiming 0 vs claiming more...what do you claim and do you usually owe? am i stupid for claiming 0? they take out more that way so you are covered and might potentially get it back as a refund...if you claim more than 0 they take out less so then you MIGHT owe. do i have that right?
WiscBadger95		#1	[-]
Posts: 12367 (12/02/08 3:13 PM) Registered user Reply Quote More Recent Posts Message Connection Block Invite	I claim 0, because I get less money taken out of my check than if I claimed 1 (myself). And I still get around $1,000 back from the state and the feds every year.
meatball77		#2	[-]
Posts: 9887 (12/02/08 3:18 PM) Registered user Reply Quote More Recent Posts Message Connection Block Invite	If you claim 0 they take out a ton. The more you claim the less you take out. I don't make crap so I generally claim 1 or 0 and my husband sets his claims at two or three depending on my employment status. You should take the correct number, which means if you're single or married with no kids you take one. You won't owe unless you have a weird tax thing like income from stocks or the sale of a house. The only time we ever owed (and it was like $200) was when we were married with no kids and were only able to take the basic deduction. What kind of refund do you get? If it's 1000-2000 then you're fine. If you're getting back 6,000 it's because you're doing something stupid (unless you got a huge bonus or something else that was taxed at a high tax rate).

<< Previous Topic Next Topic >>

Quick Reply

Message board courtesy of Survivor Sucks member support.
Benevolent dictatorship courtesy of Survivor Sucks Admin Idoits.