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Post by twoboyzmom on Aug 16, 2017 0:18:21 GMT
My son is 18 and got his first job today! I am helping fill out some paperwork and one is the W4. I never know what to put on these, and especially for him! We still claim him on our taxes, so what do I put? All zeros? Help a girl out!!
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GiantsFan
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Jun 27, 2014 14:44:56 GMT
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Post by GiantsFan on Aug 16, 2017 0:30:14 GMT
Encourage him to fill out the worksheet. And if he does he will probably end up as S and 1 exemption.
They will withhold taxes, but he's probably making minimum wage (my assumption only since it's his first job) and it will be minimal. He could write Exempt in the box, but I'd be cautious and have it withheld and get it back at tax time. Plus it will show him how taxes work.
Congrats to him on his job!
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Post by littlemama on Aug 16, 2017 0:51:56 GMT
If you are claiming him, he doesn't have any exemptions, so I would have him do Single-0. If he claims 1, not enough tax will be withheld, because he would be claiming an exemption he will not have when he files his taxes.
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Post by twoboyzmom on Aug 16, 2017 0:55:28 GMT
If you are claiming him, he doesn't have any exemptions, so I would have him do Single-0. If he claims 1, not enough tax will be withheld, because he would be claiming an exemption he will not have when he files his taxes. So just have him put 0 on the lines and sign?
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Post by littlemama on Aug 16, 2017 0:57:42 GMT
If you are claiming him, he doesn't have any exemptions, so I would have him do Single-0. If he claims 1, not enough tax will be withheld, because he would be claiming an exemption he will not have when he files his taxes. So just have him put 0 on the lines and sign? Ignore the worksheet, just complete the form. Check Single, write 0 for the number of exemptions, and sign where indicates.
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Post by its me mg on Aug 16, 2017 9:48:52 GMT
So just have him put 0 on the lines and sign? Ignore the worksheet, just complete the form. Check Single, write 0 for the number of exemptions, and sign where indicates. Yeah. That. They'll withold the max amount of taxes but since he's just a part time high school kid he'll just get it all back at refund time.
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Post by AN on Aug 16, 2017 11:28:14 GMT
There are online calculators that do the same as the worksheet. Helping him do one of those gives him an experience that will be helpful later in life, so he knows what tool to use when his situation changes.
Just telling him to put zero and sign doesn't teach him anything about how to do it in the future, and putting zero so you get the maximum withholding/refund later isn't a good approach either if you actually should have a lower withholding. It reduces his paycheck, which could be money he could use throughout the year, especially when he gets older and may have a lowish income but expenses he needs to pay.
I say this as someone who outs zero and still has to have extra withheld each paycheck. It's better to learn what you're filling out than just what the answer is for now. There are videos on YouTube that explain what the form is and what the impact is when you out different numbers. Maybe watch one of those together.
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Post by twoboyzmom on Aug 16, 2017 11:32:19 GMT
Thanks for replies. I got all this paperwork at 8pm last night and he turns in first thing today, wasn't much time for videos, etc!
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Post by AN on Aug 16, 2017 12:07:39 GMT
The videos are between 3 - 10 minutes. It would still be a great thing sometime in the next week to check them out, so he knows what he signed and why.
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