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What's the difference between single 0 vs. single 1?

Taxes! We hate paying them, so let's discuss maximizing tax deductions!

What's the difference between single 0 vs. single 1?

Postby brett » Fri Aug 19, 2011 12:52 am

I was wondering what is the difference between single 0 vs. single 1. which of do i get tax refunds? Also I am getting married on october, should i indicate married instead of single?
brett
 
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What's the difference between single 0 vs. single 1?

Postby halley » Fri Aug 19, 2011 12:58 am

I assume you are filling out a W-4 tax with holding form. If so 0 means you have no dependents and 1 means you have 1 dependent. The higher the number the LESS taxes they take out so you get more per check but that also means you get less of a refund later. I would not claim married until after you are married since you will have only been married a couple of months before the tax year ends on Dec 31st.
halley
 
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