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    bingbingny's Avatar
    bingbingny Posts: 1, Reputation: 1
    New Member
     
    #1

    Oct 17, 2012, 11:30 PM
    Need help now I only have 1 hour let till I have to be at work and have to have my w-
    I'm a dad and my baby's mom lives with me how many do I put on my w4 form so I can still get a good paycheack but make out wit a really good tex refund
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #2

    Oct 17, 2012, 11:58 PM
    Ok, Do you realise that a refund, unless it is unearned income, is just YOUR money they give back to you, They keep it all year at no interest and then make you file to get it back.

    It is much better to get as much as you can each check, and then not owe, but not get as much back.

    But the less dependents you claim, the more they hold out, so the more you may get back.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #3

    Oct 18, 2012, 04:52 AM
    I assume you are NOT married, so claim SINGLE status with FOUR allowances to maximize withholding.

    You will still get a refund because you qualify for the $1,000 Child Tax Credit as Head of Household plus possibly for the Earned Income Credit, depending on your income level.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
    current pert
     
    #4

    Oct 18, 2012, 05:04 AM
    You are allowed to change the number of exemptions during the year. Some employers limit the number of times you can do that.

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