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You are only supposed to claim the number of qualifying exemptions that you are qualified to claim.

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โˆ™ 2010-07-31 01:22:16
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Q: How many tax exemptions can you claim?
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How does the number of exemptions claimed affect the amount of taxes you will pay?

The number of exemptions that you claim affects the amount of taxes that you will pay by lowering them. That is if the exemptions are claimed when you file your taxes. The more exemptions that you claim on your paycheck, the more you money you receive in your pay each week, rather than having more in your tax refund.

Where can I find a tax calculator so I know how many exemptions should claim?

There are a few places you can get this information. You can inquire directly with the IRS. You can check with your yearly tax preparer. And you can visit website. They have a tax calculator on the site.

How does someone claim on taxes that they donated to a charity?

To claim donations for tax exemptions, one must first check whether the charity has received their 501(c)(3) tax-exempt status. Once the receipt is received from the charity, one can claim it towards tax deduction.

How much is 16700 a year salary monthly after tax?

The amount of tax you pay depends on how many exemptions you will claim and what you will file as. As little as three thousand dollars may be taken out of this check. 1100 dollars a month would be the average figure after tax.

How many exemptions can Diana and Henri claim on their joint return?

Married filing jointly one exemption for each taxpayer that is listed on the 1040 federal tax return would mean a total of 2 exemptions. 1 plus 1 equal 2.

Should you choose 0 or 1 for exemptions on your income tax forms?

Form W-4 is Employee's Withholding Allowance Certificate. You enter the number of your exemptions on Form W-4. The Personal Allowances Worksheet guides you to take an accurate number of exemptions. If you (and/or your spouse) are working at more than one job, you might claim 0 allowances to make sure enough tax is withheld on your earnings. Also, if you have a large amount of nonwage income (interest, dividends, etc.), either claim 0 exemptions or arrange to make estimated tax payments using Form 1040-ES (Estimated Tax for Individuals). For more information, go online to print Publication 505 (Tax Withholding and Estimated Tax) at

Can your parents claim you for taxes and you claim yourself?

In the US, when another taxpayer is entitled to claim you as a dependent on their income tax return, you cannot take an exemption for yourself even if the other taxpayer does not actually claim you as a dependent.Then Exemptions for DependentsDependent not allowed a personal exemption. If you can claim an exemption for your dependent, the dependent cannot claim his or her own personal exemption on his or her own tax return. This is true even if you do not claim the dependent's exemption on your return or if the exemption will be reduced under the phaseout rule described under Phaseout of Exemptions, later.Go to the IRS gov web site and use the search box for Publication 17 (2009), Your Federal Income Tax for Individuals go to chapter 3 ExemptionsYou can click on the below related link

Is Congress likely to extend the current exemptions on inheritance tax before they expire?

Congress didnt extend the current exemptions on inheritance tax. The exemptions are only temporary though and tax is likely to be reinstated fully within a year. More than likely Congress will extend the exemptions on the inheritance tax. When they are close to expiring they will be brough up for a vote.

For 2009 should you claim 1 or 2 for your exemptions?

Your not filing 2009 tax returns for over a I guess you mean a new W-4? As many as the workpaper that shows you how many is proper for your situation indicates.

If you itemize can you claim a personal exemption?

Yes but to itemize you will have use the schedule A of the 1040 income tax return and that does NOT have any affect on your exemptions that are entered on the 1040 federal income tax return page 1.

Where can I get property tax information regarding homestead exemptions in Texas?

You can find information the exemptions at www.window.state.tx

Enter 0 or 1 on a W-4 form to have more money withheld?

The fewer exemptions you claim on your W-4, the more income tax will be withheld from your pay. Therefore, 0 exemptions will cause more withholding the 1 exemption.

How are estate tax exemptions applied?

When you click on the link that has been provided for you below this answer you will go straight to a page which has all the information you are looking for regarding tax exemptions

Grants or special tax exemptions provided to businesses are called?

Income tax

If you use the standard deduction can you claim personal exemptions?


What tax form do you use to claim allowable exemptions?

Form W-4 is Employee's Withholding Allowance Certificate. It's an IRS form that your employer gives you to complete for the employer's records. Allowable exemptions are the number of personal, dependable, and other exemptions that you claim on Form W-4. Your employer refers to the number of exemptions and your filing status to calculate income tax withholding from your earnings.For more information, go to Select Topic 753: Form W-4 Employee's Withholding Allowance Certificate.Also go to the Forms and Publications screen, Select Publication Number to view/print Publication 505: Tax Withholding and Estimated Tax and Publication 919: How Do I Adjust My Tax Withholding?

How much is tax for4181.60 income?

You have to know what kind of income it is; any exemptions to be claimed; any credits available; age of the taxpayer; does anyone else claim the person who earned the income; are you talking about federal income tax?

What is the percentage of tax taken out of a paycheck in NY?

The percentage of taxes taken out of a paycheck depends on the number of exemptions you are allowed to claim. The average amount taken out is 15% or more for deductions including social security and income tax.

What are taxes exemption design to do?

Tax exemptions are designed to give individuals and businesses a break so they can have some of their money left to contribute to the economy. There are a wide variety of tax exemptions.

How many exemptions should I claim on my taxes?

As many as you can legally find. It is your responsibility to see to it that the government steals as litle of your money as possible.

How could you find your tax exemptions for 2009?

On your correctly filed income tax return 1040 page 1 where it says exemptions 1040 line 6d 1040A line 6d and 1040EZ you can only have 2 exemptions 1 for yourself and one for your spouse if married filing a joint income tax return.

What is the tax in Massachusetts?

As of 2012 it is 6.25 percent, but there are numerous exemptions.

How do you claim exemptions with your withholding certificate on your tax return?

Form W-4 is Employee's Withholding Allowance Certificate. It's an IRS form that you fill out for your employer. Employers keep completed W-4 form with their employment tax records.Often the number of exemptions that you claim on Form W-4 won't be the same as on your tax return. The exemptions on Form W-4 are designed to help your employer deduct the correct withholding amounts from your earnings.Also, Form W-4 only offers two filing statuses (Single, Married Filing Jointly). But your federal tax return has five filing statuses: Single, Married Filing Jointly, Married Filing Separately, Head of Household, Qualifying Widow(er) with Dependent Child.In filling out your return, you choose your exemptions according to specified situations (a choice of five filing statuses, personal/dependent exemptions). So you don't match the number of exemptions on your tax return with the number on Form W-4.For more information, go to for Publication 501 (Exemptions, Standard Deduction, and Filing Information).

How many dependents can you claim on a tax return?

As many as legally qualify.

How does the W-2 form work and what are the best choices to make on it in order to get the most money in the long run?

Form W-2 is Wage and Tax Statement. It's often confused with Form W-4 Employee's Withholding Allowance Certificate. You can claim whatever exemptions (personal, dependent) that you're eligible for. If you're expecting tax credits (child/dependent care expenses, child tax, etc.) or earned income credit to lower or eliminate your tax or to give you a large refund, you can adjust your exemptions. You can claim 0 exemptions if you want more withheld, which usually means you'll receive a larger refund. Your employer calculates withholding based upon your W-4 form. For more information, go to to view/print Publication 919 (How Do I Adjust My Tax Withholding?).