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!
I am single male making 46,000 a year I have to kids I claim what should i claim for allowances on w4 form I also file head of household
My wife is going to quit her job to stay home with our two kids. This has caused me to need more money each month to pay off bills and to make living easier for my family. I am a teacher. How many allowances should I claim? 3? or should it be higher?
The IRS has a tool to help you determine how many allowances you should claim on your W-4 Form. Simply clickhere to use the IRS Withholding Calculator.
Hello it is amazing to read all the questions and to see you guys respond this is relieving.
Well I have just officially been divorced as of 09/2017 and was also putting married claiming 00 on both state and federal taxes. Now its the beginning of the year and my first check is due to come out and wanted to know for state taxes do I put single or head of house hold. I just rent a room at a friends. So pay rent etc. As for Federal taxes do I put single and also claim 00. I just want to break even and or receive a little back. Hope you can help advise me what I should do. Thank you
You may want to claim 2 allowances, as a single individual that will be filing their own taxes on the W-4 Form. You only qualify for the head of the household status if you have a qualifying dependent or qualifying child. So if you do not have either, you will need to file single on both your Federal and State return.
what u should do is fill as a single individual , u can’t fill for head of house hold if your not taking care of everybody in the house .
Hi I am married and have 2 children. Currently I claim 2 on W4 for Federal my wife works but only make 1000 a year as a 1099 tutor. I have a high medical itemization that I claim due to my child. Should I claim 3 on Federal or keep it at 2. I want more money to take home but don’t want to pay at the end.
The IRS has a tool to help you determine how many allowances you should claim on your W-4 Form. Simply clickhere to use the IRS Withholding Calculator.
My husband is the main provider he works 1 job full time. I cannot work full time due to health issues so I am opening an Etsy store. We just changed his withholding to 1. Should we change it to 2?
The IRS has a tool to help you determine how many allowances you should claim on your W-4 Form. Simply clickhere to use the IRS Withholding Calculator.