What should I put down on my W-4 to maximize the deductions taken out every pay check?

 

Retirement tax questions

Claim zero (0) dependents to maximize the amount of taxes withheld from each paycheck (not 'deductions', in your question). There is also space to request an additional dollar amount withheld from each check as well (only for Federal, not state). For example, 0 dependents + $25 - the maximum is withheld from each paycheck for both Federal and State, and an additional $25 is withheld for Federal taxes.
Note: Withholding can be changed any time during the year by submitting a new W-4 to your employer.

Retirement tax questions

thanks doug. so if i want to maximize my deductions should i put zero instead of one? is the dollar amt calculation at the end of the form an additional amt that will be deducted aside from what the system will automatically calculate?

Retirement tax questions

Hi Robby - yes, tax withholding from your paycheck is calculated based on your # of dependents...the less you have, the more they withhold, so enter zero instead of one. And yes--the dollar amt was an example of entering an amount that is withheld in addition to what is calculated. Withholding is calculated to allow you to have more money "in your pocket" if you have dependents to care for; also, the # of dependents is calculated such that you shouldn't owe or get money at the end of the year, for your correct # of dependents. You can always enter an amount to withhold in addition to the calculated amount, regardless of the # of dependents you enter---for example, you can enter 2 for dependents, and enter $30...each paycheck has the calculated taxes withheld, PLUS an additional $30.