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Posted by funbun16 on April 3, 2007, 6:44 pm
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My boyfriends been claiming two dependants at work. He can
only claim one dependant on his taxes. Is this going to
screw him up? Is there anything different he should do on
his taxes or should he just follow the instructions on the
tax form and not say anything? He doesn't want to get in
trouble or end up owing more later.
Thanks
fb
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Posted by Phil Marti on April 4, 2007, 2:20 pm
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> My boyfriends been claiming two dependants at work. He can
> only claim one dependant on his taxes. Is this going to
> screw him up?
At work it's "withholding allowances" on his W-4, and that's
not the same thing as dependents on a return. Per the
instructions on the W-4, if he's single supporting no one
other than himself, cannot be claimed as a dependent on
anybody else's return, and works only one job, he should
claim two withholding allowances on his W-4.
Were I you I wouldn't go any further than asking him whether
he went through the worksheet on the W-4.
--
Phil Marti
Clarksburg, MD
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
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<< Copyright (2006) - All rights reserved. >>
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Posted by Taxmanhog on April 4, 2007, 2:20 pm
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> My boyfriends been claiming two dependants at work. He can
> only claim one dependant on his taxes. Is this going to
> screw him up? Is there anything different he should do on
> his taxes or should he just follow the instructions on the
> tax form and not say anything? He doesn't want to get in
> trouble or end up owing more later.
No problem,
This a common situation, many people claim more exemptions
of their FORM W-4 to reduce the amount of taxes with held
in the weekly pay check, so long as a sufficient amount is
with held through the year to cover actual taxes due he will
be ok.
The tax return FORM 1040 should reflect the correct amount
of exemptions, in his case, ONE.
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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Posted by joetaxpayer on April 4, 2007, 2:20 pm
Please log in for more thread options funbun16 wrote:
> My boyfriends been claiming two dependants at work. He can
> only claim one dependant on his taxes. Is this going to
> screw him up? Is there anything different he should do on
> his taxes or should he just follow the instructions on the
> tax form and not say anything? He doesn't want to get in
> trouble or end up owing more later.
No, he claims two exemptions. An 'exemption' means "I have a
dependent or a $3000 tax deduction, so please withhold less
tax." (a bit of oversimplification). When I was young and
stupid, I had a mortgage that cost me half my monthly
income, and I claimed 12 exemptions. At the end of the year,
between mortgage interest, property tax, state tax, etc.,
that was about the right number.
In the end, what counts for your boyfriend is if he owes
money (a bit is ok) or getting a refund (more than $1000 and
he should up his exemption further)
JOE
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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Posted by Seth Breidbart on April 5, 2007, 1:49 am
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> My boyfriends been claiming two dependants at work. He can
> only claim one dependant on his taxes. Is this going to
> screw him up?
Probably not. If he has other deductions (mortgage, real
estate taxes, etc.) then he should claim more exemptions
than he has dependents.
> Is there anything different he should do on
> his taxes or should he just follow the instructions on the
> tax form and not say anything?
Just follow the instructions.
> He doesn't want to get in
> trouble or end up owing more later.
He might end up owing taxes at filing; if the amount isn't
too large, there's no problem. (If it is, he owes a little
interest along with the taxes.)
Seth
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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