Difference between Claiming 0 and 1 on Taxes?

Answer

There is a difference between claiming 0 and claiming 1 on taxes. When an individual fills out tax information at a workplace, they usually indicate how many dependents they will claim in order to determine the amount of taxes to be taken out of a paycheck. Claiming 1 means that the individual is claiming at least one dependent. Claiming 0 means that the individual has elected to claim no dependents. Less taxes are taken out when more dependents are claimed.
Q&A Related to "Difference between Claiming 0 and 1 on Taxes?"
For tax year 2010, your taxable income is reduced by $3,650 for each exemption you claim on your return. You are eligible to claim personal exemptions for yourself and your spouse
http://www.ehow.com/info_8154393_difference-filing...
There are several factors to consider when determining how many exemptions you should claim on your W-4 federal witholding certificate. One is do you have a spouse and dependents
http://answers.yahoo.com/question/index?qid=200806...
If you claim 0 - you will be taxed the most. If you claim 1 (which is yourself) you will presumably be taxed the right amount and break even when tax time arrives. However, claiming
http://wiki.answers.com/Q/How_do_you_know_whether_...
USB 1.0 is the original USB port standard. USB 1.0 devices first became available to the general public in 1996. However, due to issues with the con
http://www.ask.com/question/what-are-the-differenc...
Explore this Topic
The work you do at your business will survive into the future. For example, if you are contractor and build a wall, that wall will exist long after you have retired ...
When you buy real estate, a transfer of ownership takes place, which in legal terms is called a conveyance of land. In order to be enforceable, a conveyance must ...
There are several difference between an EPO and an HMO. With an HMO the insurance company pays for the claim, and with an EPO the company pays for the claim. Insured ...
About -  Privacy -  AskEraser  -  Careers -  Ask Blog -  Mobile -  Help -  Feedback © 2014 Ask.com