Help with the W-4 form.

Discussion in 'UPS Discussions' started by bbox, Nov 11, 2009.

  1. bbox

    bbox New Member

    Hey guys I need help on W-4 form. Never filled one out before since this is my first job.

    What should I enter for total amount of allowances I'm claiming?
    It says enter additional amount,if any that I'll want to be withheld from my paycheck? Should I put 0?
    Or should I just claim exception?

    I'm a teen, single, and I live with my parents. I was going to put 1 (on the form for the allowances I'm claiming) but I wasn't sure.

    I felt it was better to get you guys input on this. Oh, and the position is for the Unloader/Loader. I don't think that matters, but it doean't hurt to put that out here.

    Thanks, and this forum looks really helpfull.
     
  2. Funfact

    Funfact Well-Known Member

    Can your parent claim you ??? If so mark "0" otherwise claim 1
     
  3. upsgrunt

    upsgrunt Well-Known Member

    It depends on how much of a refund you want, or don't want, when you file your taxes. Claiming 1 exemption, with no additional withholdings, should get you close to both owing nothing and getting no tax refund when you file your tax return in March. If you want to receive a tax refund, then claim 0 and or have additional withholdings taken out each pay period. You are basically giving the government a interest free loan, but some like to get that refund in March.

    Hope this helps.
     
  4. rod

    rod retired and happy

    Don't "loan" your hard earned dollars to Uncle Sam. If you have a bunch taken out just so you get a larger refund you are just cheating yourself. Uncle Sam don't pay interest on your over payments so all you are doing is giving him an intrest free loan. Claim 1 if your parents aren't claiming you.
     
  5. brownmonster

    brownmonster Man of Great Wisdom

    Take the money and put it in the bank at .025% interest instead.:whiteflag: