Witholding- For sinlge filers

[cmosley35]

How much taxes should be taken out of my paycheck?  I am a single filer, no dependents. Should I claim 1 or 0 on my W4?

[AskTxBrenda]

By placing a “0” on line 5, you are indicating that you want the most amount of tax taken out of your pay each pay period. If you wish to claim 1 for yourself instead, then less tax is taken out of your pay each pay period.

If you have 2 or more jobs - 

When filling out your W-4 forms, there are a few tips to keep in mind: For the job where you make the most money, claim all of the allowances you normally would on the W-4 form. For any other job that you have (your second job for example) claim zero.

If you want to owe the least amount when filing your taxes, you will claim 0 on the W-4, so the job will withhold at a higher rate. This is important especially if you have more than 1 job. 

 If you didn't account for each job across your W-4s, you may not have withheld enough, so your tax refund could be less than expected.

Calculator - https://apps.irs.gov/app/tax-withholding-estimator

Instructions - https://www.irs.gov/pub/irs-pdf/fw4.pdf

[Critter-3 · Accepted solution]

@AskTxBrenda  

BRENDA ... YOU NEED TO GIVE CORRECT INFO ... THERE IS NO LINE 5 ON THE NEW W-4 FORMS.