W-4 claiming 0, 1 or 2 allowances. Solution Hello Folks,
I live in Texas. I am a single individual with no Children to claim, a girlfriend, her sister and my brother living under my roof.
I am an engineer and make 51,000 annualy Salary without counting my other business on the side profit.
For the past 3 years I have claimed 0, the first year on my taxes.
The second year I claimed 1. And the third year I claimed 3.
It is November now in 2017 and tax season is around the corner in March.
For these past 3 years, they have been taken way too much funds from my monthly check. Currently I am being deducted 3 thousand dollars every month, claiming 3 allowances on my W4 for 2017. The years before it has been even worst. Usually on march I barely get 1 thousand back. and the gov keeps the rest. I am kind of tired of this situation.
I am asking for advice from anybody that has found an effective solution to this or know a relative or someone that did. How I could adjust my W4 today from my employer (which is possible) to not receive a large refund on March but to also not be owing anything back.
When it comes to being honest, do the feds really ask a name and social security of 2 dependents I could potentially claim on my taxes? Is this really truth or just a myth? Because from what I have heard here in the City, a lot of Americans are actually doing just that to have a tax break. They will put 5 allowances total claiming themselves and head of household equaling =3 plus 2 additional domestic partners who they live with as dependents, that makes = 5 total allowances.
I just want to be able to our lives without this nightmare penalizing us every time for not marrying and having kids. Which I find to be a personal decision. |