Tax Question: Single Parent 50k 1 Dependent What Is The Max I Should Claim To Have More On My Check ?
06/05
I would like to see more on my pay check and still receive average refund at the end of year. Single parent make around 52k a year with one dependent.
I did taxes with the IRS with The USMC (VITA)http://www.irs.gov/individuals/article/0…
If that link does not work just go to http://www.irs.gov and in the search box type “Withholding Calculator”
People cannot make that decision for you, there is to much information that is personal that determines how much you should withhold.
Good Luck!!
I would claim single and one. But it depends on all of your deductions. You can fill out a w4 planner to get an idea of how much you should have withheld. I would suggest putting money into a cafeteria plan for medical expenses. This will help reduce your taxable income and get you more money back.
Go to the link below, it will help you see how much you should have withheld and still get a refund.
Christine EA Master Tax Advisor
Any advice included in this message is based on our understanding of current tax law as it applies to the facts that you gave ushttp://www.hrblock.com/taxes/tax_calcula…
The max you can claim is 3. One for you. One for the child, and One for Head of Household.
Go to IRS.GOV and run the withholding calculator using your last paystub. It will make recommendations.
any more than S-2 and you might wind up owing taxes