The last thing you want to do is frantically run up to your boss asking “How many allowances do I claim on my W-4?”.
Being aware of the number of allowances you are claiming on a Form W-4 [Employee’s Withholding Allowance Certificate] is important for a variety of reasons. Most importantly, the number of allowances you claim on a W-4 determines the following;
- how much tax will be taken from your income (aka the withholding amount)
- the size of your tax refund
Steps to filling out a W-4
You’ll need to follow four simple steps when filling out your W-4 Form:
- Fill out your personal information (Name, Date of Birth, Address, Marital Status)
- Know the number of personal and dependency exemptions you are claiming on your tax return.
- Based on the number from step 2, use that number to help determine your number of allowances.
- Don’t forget to sign the W-4 and turn it into your employer!
The allowances you claim while filling out a W-4 if you are single will differ from the allowances you claim if you are married or have kids.
Claiming zero allowances
- The maximum amount of tax is withheld. Meaning, when it comes time to file your tax return you will most likely receive a refund.
- You’re being claimed as a dependent on someone else’s tax return.
Claiming one allowance (ideal if you are single with one job)
- You’re single and have one job. Claiming one allowance will most likely result in a refund when you file your taxes.
Claiming two allowances
- You are single. Claiming two allowances will get you close to your tax liability but may result in tax due when filing your taxes.
- You’re single and work more than one job. Claim one allowance at each job or two allowances at one job and zero at the other.
- You’re married.
Claiming three allowances
- You are married with one child.
Claiming additional allowances
- File as head of household if you are eligible. You are able to claim additional allowances.
- You had at least $2,000 of child or dependent care expenses that you plan on claiming credit
- You’re eligible to claim the Child Tax Credit
Can I fill out a new W-4 form?
Yes, employees can submit a new W-4 form to their employee at any time during their employment. Have you recently started a second job, had a baby, or tied the knot? Life changes such as these should encourage you to update your W-4 withholding.
A great tool to help you while filling out a W-4 is the IRS Withholding Calculator, located on the IRS website.
Claiming zero allowances means less take home pay, but a bigger tax refund during tax season.
The number you report on a W-4 will ultimately determine your take home pay and your tax refund. Don’t write down any number. Take the few extra minutes to really assess your situation and fill in the W-4 accordingly. By doing so you’re less likely find yourself in a difficult financial situation.
Then, when you’re ready to file your taxes, you’ll have a heads up on whether or not you’ll be receiving a tax refund!
Hey, can you please help me with how much i should withhold from my tax on w-4 form ?
I am a Single international student and i am not a dependent on my parents (they do not file US Tax) I pay for my university tuition out of my own bank account. I recently also got a part time job at the school.
Should i claim to withhold 2 allowances? or does that not make sense?
Appreciate your help
For how you should go about filling out your W-4, it best if you speak with your employer or payroll for a better idea of how the number of allowances you claim will effect your salary. Generally, the more allowances you claim, the more money you will receive from your checks, but the less taxes get withheld through each cycle. It is best for you to claim the right amount of allowances that doesn’t end up giving you a large refund or puts you in a large tax liability when it comes time to file your taxes.
My fiance works and I stay home with our 2 children. We need more take home money. What would we put for our w4 allowances? We don’t want to have to pay in when tax season comes.
It would be best to consult with payroll on your situation and how many allowances you should claim to avoid having to pay a large sum of taxes at the end of the tax year. Getting as close to zero is the ideal situation you want to be in, so you can use as much of the income you earn throughout the year instead of having it sit there until the next year.
Hi I have a question on how to fix my w-4.
For the last two years I have been paying taxes at tax time.
I am a single mother of one sole supporter and I have usually 2-3 jobs. My mom lives with us because of injuries. She helps me at tax time. But I don’t know what to mark on w-4 anymore.
2015 Yr before last I did A: 1. B: 1 C: 0. D: 1 on form and at tax time my mom puts her down as my dependent because I rake care of both. I do. Not claim her on w-4s thou. E: 1 because I am F: blank. G: 2 for my one child. So H: 6 was claimed. I had to pay 8000 dollars in taxes. Total wages were 28,679.
Then for 2016 I adjusted with little help from IRS or tax people of not claiming head of house so 5 total and still had to pay taxes of almost 1000 dollars but I made almost 38,000 dollars this year.
So please HELP me correct my w-4s so I have max taxes taken and get a refund back next year.
Again I’m single sole supporter of my daughter and mom. But i only put my daughter on form and at tax time I put my mom and daughter.
Please advise
For help with your withholding, you may use the IRS Withholding Calculator. This easy-to-use calculator can help you figure your federal income tax withholding so your employer can withhold the correct amount from
your pay. This is particularly helpful if you’ve had too much or too little withheld in the past, your
situation has changed, or you are starting a new job.
Hello:
I am single, I have 1 dependent which is my mother, and I believe I am considered the head of household as I provide for more then 80 percent of the household expenses; how many allowances should I claim to get the largest tax return?
You can use the IRS with holding calculator to help you determine how many allowances you should claim on your W-4 Form. Click here to try the IRS Withholding Calculator.
Hello! I am hoping to get a response from someone- I’m not sure if this has already been asked but there was just too many to go through lol. I am in the process of purchasing a house (I am expected to close in mid-May), single, and I have my younger brother living with me while he goes to college. Upon purchasing my house and once everything is finalized, should I claim 2 or 3 on my W-4 (1 on A for myself; 1 on B for being single and having one job; and 1 on E for Head of Household)? I am making about $85,000 annually and still paying off student loans. I have been claiming 1 for my W-4 for the last 3 years and typically get a refund of about 3,000 – 5,000 each year and never have had to pay. If I claim 2 or 3 after purchasing a house with my same income and still continuing to pay school loans throughout the year, will I end up having to pay come tax season, or will I still be getting a little bit of a refund still due to owning a home? Any help would be appreciated. Thanks! 🙂
For help with your withholding, you may use the IRS Withholding Calculator. This easy-to-use calculator can help you figure your federal income tax withholding so your employer can withhold the correct amount from
your pay. This is particularly helpful if you’ve had too much or too little withheld in the past, your
situation has changed, or you are starting a new job.