How do I know if the LEAST amount is deducted from my check? I claim 2 allowances - urself and single w/ 1job?

Question

I want to know if the least amount is being deducted in taxes. I am single and I claimed 2 allowances on my W4 form - one for myself with no dependents and one for being single w/ one job. (A and B). my filing status on my paychecks is "s02." is the most or least being deducted? it seems like a lot is taken out each week. How can I change is so it is the least if it is not? thanks!

Answer 1

Single with two exemptions means that you have less taken out than you would if you claimed single zero.  Taxes are probably higher than you expect.

If you want to check the calculations for the federal withholding, you can look for Publication 15 Circular E at www.irs. gov and calculated the withholding based on the tables in the back of the publication.

Remember that you have 7.65% taken out for social security and you may have state &/or local taxes taken out as well.