Do I Claim Zero, One, Two Allowances on a W-4? | RapidTax

Do I Claim Zero, One, Two Allowances on a W-4? | RapidTax

Steps to Filling out a W-4

You'll need to following four simple steps when filling out your W-4 Form:

1. Fill out your personal information (Name, Date of Birth, Address, Marital Status)
2. Know the number of personal and dependency exemptions you are claiming on your tax return.
3. Based on the number from step 2, use that number to help determine your number of allowances.
4. Don't forget to sign the W-4 and turn it into your employer!

The allowances you should claim while filling out a W-4 if you are single will differ from the allowances you claim if you are  married, have kids or whatever the case may be. 

Claiming Zero Allowances

• The maximum amount of taxes is withheld. Meaning, when it comes time to file your tax return you will most likely receive a refund.
• If you are claimed as a dependent on someone else's tax return, you should claim zero allowances.

Claiming One Allowance (best option if you are single with one job)

•  If you are single and have one job, by claiming one allowance will most likely result in a refund when you file your taxes.

Claiming Two Allowances

• If you are single, claiming two allowances will get you close to your tax liability but may result in tax due when filing your taxes.
• If you are single and work more than one job, you can claim one allowance at each job or two allowances at one job and zero at the other.
• If you are married, you should claim two allowances

Claiming Three Allowances

•  If you are married and have one child, you should claim three allowances.

Additional Allowances

• If you file as head of household you can claim additional allowances
• If you had at least $1,900 of child or dependent care expenses that you plan on claiming credit
• If you are eligible to claim the Child Tax Credit

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