0
When filling out a w-2 what is the difference between declaring 2 or 3 dependents?
I think you mean a W-4, not a W-2.
For reference, here is a copy of Form W-4 to look at as you read this answer:
http://www.irs.gov/pub/irs-pdf/fw4.pdf
The first thing you must realize is that Form W-4 does NOT ask you to declare dependents. Look at line 5. It says "Total number of allowances you are claiming."
Note the word "allowances." Allowances are different than dependents.
The only place it asks you to enter the number of dependents is on line D of the "Personal Allowances Worksheet" which is used to calculate the number of allowances you should claim, but is not given to your employer. You should truthfully use the number of dependents that you will actually claim on Line D.
When you fill out the part of Form W-4 that you will give to your employer, you fill in the number of allowances you are claiming on line 5. Unless you have a lot of income from some source other than your job, this should be larger than the number of dependents you have. The larger the number of allowances, the less tax will be taken out of your paycheck. If you choose three allowances instead of two, you will get a larger paycheck every week, but you will get a smaller refund at the end of the year. In other words, you won't have to wait a whole year to get your money and you won't have to pay for a rapid refund loan or e-filing to get your money faster.
If you want to see exactly how much money will get taken out of your check for taxes based on different numbers of allowances, use this calculator:
http://www.paycheckcity.com/NetPayCalc/netpaycalculator.asp
What else can I help you with?
What is the difference between the indexing and coding filing procedures?
the difference between coding and filling
What is the difference between a Chapter 7 and a Chapter 11 business bankruptcy filling?
In Chapter 7 bankruptcy, assets of a business are sold to help pay back their debts. In Chapter 11, businesses can keep their assets and try to negotiate new terms with their creditors.
What documents should you bring with you to file a joint income tax return?
If you are married filling your income tax and are filing joint, you would need to bring marraqe lisence, w-2's, corret idinefication for you and any dependents you are claming,reipts for exspences thrughout the year and any thing else that might be tax exempt.
What is the action of filling a database table with records?
Populate
How does one open an account with Naugatuck Savings Bank?
One can open an account with Naugatuck Savings Bank by filling out a form at a local service provider or going onto the main website and filling out a form there.
What is the difference between the indexing and coding filing procedures?
the difference between coding and filling
What is difference between filling and tempory filling?
a temporary filling is somthing you will have put into your baby teeth and when your baby teeth fall out and you get a hole in the adult tooth they will replace the filling with a metal one and num it with a needle
What is the difference between pies and tarts?
The main difference between pies and tarts is the type of crust used. Pies have a flaky crust that covers the filling, while tarts have a firmer, crumbly crust that holds the filling in a shallow, fluted pan.
What is the difference between root pass filling pass and copping?
Root pass is the first pass or the root penetration, filling is between the first and the second pass while capping is the covering.
Can filling head of household affect any parties living with you that is filling?
None of your claimed dependents that qualify you for head of household can be claimed on any other returen, including their own.
What is the difference between sweet pies and savory pies?
Sweet pies have a sweet filling and a sweet pastry. (i.e the filling and pastry contain sugar). Savory pies do not.
Difference between interpolation and extrapolation?
Interpolation is filling in the data points between the data that has already been collected. Extrapolation is filling in data points beyond the data that has already been collected, or extending the data.
What's the difference between a calzone and stromboli?
The main difference between a calzone and stromboli is how they are prepared and folded. A calzone is folded in half like a turnover, with the filling inside the dough. Stromboli, on the other hand, is rolled up like a jelly roll, with the filling layered inside the dough.
When filling out a w-2 form what is the difference between declaring a 1 or 2 dependents?
A deduyction for a dependent is worth about an $850 reduction in your taxable income. That, at whatever your rate would be is approximately the amount of lowering of tax withholding you will see. Of course, your ultimate tax is in no way effected by the amount of deductions claimed on your W-2, only the amount withheld from that subject payroll. If you don't have enough withheld (especially easy if you have income from other sources, like bank accounts or side jobs) you should make additional estimated payments or will be subject to penalties and interest.
Insturctions on filling out straight note secured by deed of trust?
What is the difference between a straight note and a promissory note:
What is the difference between a calzone and stromboli?
The main difference between a calzone and stromboli is how they are prepared and folded. A calzone is folded in half like a turnover, with the filling inside the dough. Stromboli, on the other hand, is rolled up like a jelly roll, with the filling layered inside the dough before baking.
What is the difference between sfogliatelle and lobster tail pastries?
The main difference between sfogliatelle and lobster tail pastries is their shape and filling. Sfogliatelle are shell-shaped pastries filled with a ricotta cheese and citrus mixture, while lobster tail pastries are tube-shaped and filled with a cream or custard filling.
