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Level 1
June 1, 2019
Question

How much withholding should I do for a single person? But I need more money, I have it set for 2. But can I do 3 or 4?

  • June 1, 2019
  • 2 replies
  • 17 views
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2 replies

fanfare
Level 15
June 1, 2019

set to 4 then look at your next pay check..

that will tell you what the effect of +2 is..

watch out for recent or upcoming changes in the withholding formulas ; they are in flux

June 1, 2019

under-withholding (claiming to many exemptions) can result in penalties when you go to file your 2019 return in 2020.  you might get away with having 80% of you 2018 taxes withheld.