new job W4

[melanie1000]

I just started a new job. I am a single parent (separated but divorce drags on). I always file HOH status for my taxes. Trying to determine what to put for the W4 withholdings. I have one child who turns 19 soon and who just finished freshman year of university across the country (she's living home for the summer). I have claimed her in the past on my tax returns. I have 14yo son too who lives with me 100%  
I'm trying to understand what to put for my W4. Because of my single parent situation I'd like as little withheld as possible from my paycheck with the understanding that doing so means I won't get a larger refund on my taxes.

[SusanC6]

Congratulations on the new job!

Based on the information provided, Head of Household status would be the correct filing status.

Step 3:  Claim Dependent and Other Credits:

•  $2000 would go on the first line for your son who is under age 17 and lives with you 100% of the time.  
• If your 19 year old daughter remains a full time student for at least 5 months of the year and does not provide over half of her support, she would qualify for the Other Dependent Credit of $500. 
• Other potential credit amounts that may be included on Line 3, in addition to the $2500 above, would be qualifying Education Credits for your daughter.  Those credits include the American Opportunity Tax Credit or the Lifetime Learning Credit.

Below is a link to the IRS site for Education credits: questions and answers.  

https://www.irs.gov/credits-deductions/individuals/education-credits-questions-and-answers

[Cindy4]

Congratulations on your new job! 

You may be able to continue to claim your 19-year-old as a dependent if you are still supporting him even if he has temporary absences to attend school.  Please check out this great article on dependents:  https://blog.turbotax.intuit.com/tax-deductions-and-credits-2/family/who-can-i-claim-as-a-dependent-...

You may also qualify for one of the education credits.

Using this withholding estimator will guide you to coming as close as possible to $0 tax due.  You simply enter your income and dependent information, and answer a few short questions.

Hope this helps!

Cindy