Head Of Household On W-4
Question: How many allowances should I claim on my w-4?
I just had my first child this year. I am single and would be considered head of house hold. I claim 2 allowances right now but I was told I should only claim 1 so I get a bigger return when I file taxes next year and then I would claim my daughter and head of household. Im about to change it so I just want to make sure this is a good idea?
Answer: Are you looking for a bigger Tax Refund? If so, then claim Single and 0 allowances on your W-4.
If you are looking for a smaller refund, then you can claim additional allowances since you have more tax deductions and possibly credits for this year.
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