How many withholding exemptions should I claim?

Answer by  frank (279)

In general you should claim the number of exceptions that would make you neutral with the governement on the amount of taxes one would owe on your annual tax return. Taking too many exceptions will cause you to owe money in April and could cause a fine to be given against you.

Answer by  worker76 (773)

it depends how many dependants you have. if you have cbhildren under 18 you add one for each of them. As for yourself...You can claim either 0 or 1. 0 deducts MORE from checks but more back at tax time. 1 deducts LESS now and get less back at taxtime.

Answer by  step (309)

The general rule is one for one. Basically, how many people do you claim on your IRS 1040 (tax return) every year? You and a child would equal 2. You and 2 children would equal 3, so on, so on. Also if you own a house, the deductions are such that you could count it as one also.

Answer by  Tony45 (48)

I would recommend reading the IRS information website. They have a section specifically on determining the number of witholdings you should claim and even provides a calculator to help you do so.