How much is taken out if you claim zero on W4?
Asked by: tmoran
I’m single in the 25% bracket. All the thousands I pay in education loan interests and charitable doantions won’t give me deductibles because I make above $ 75K. With this described scenario I ended up owing $ 1,500 in taxes for 2011. I think I have around 8 allowances in my W4.
I’ve been adviced to change my W4 to zero allowaces to avoid owing money in this year’s taxes and actually get a refund next year.
I want to understand how much does the federal goverment take out of your earnings when my W4 changes to 0 allowances?
I appreciate your time!
How others found here:
- if you claim 0 how much tax is taken out
- if i claim 0 how much is taken out
- if you claim 0 on your w4 what percentage is taken out