Is it best to claim a one or zero on my w4 form?

Question

I'm a 22 year old college student who just started a new full time job. I make $730 before taxes a week. My dad still claims me as a dependent however. I was wondering is it better to claim a zero or a one for taxe purposes? Which will keep me from having to owe money?

Answer 1

0, you get a bit less but you can get that money back next year.  Keep it at zero unless you have a lot of deductions otherwise you will end up owing every darn time!

Dad can only claim you one more year.. 23 is the limit.

Answer 2

In your case, claim zero as long as you can be claimed as a dependent.  Switch to 1 (or possibly 2) once you graduate and are out on your own.

Answer 3

Since you are working and you make more than $3,000 dollars in the year 2008 - you will need to file taxes and it is likely you will get most of it back.

Personally, I would claim Zero.  And, if you are single, it will be single/zero - this should assure you do not owe any money.

Answer 4

Zero if you want a refund.