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USA: New hourly job filling out a W-4, single person, no dependents, what's the lowest deduction we can choose? (lemmy.world)

submitted 8 months ago by LemmyKnowsBest@lemmy.world to c/personalfinance@lemmy.ml

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Goal: the least amount of withholdings possible

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[–] FederatedSaint@lemmy.world 1 points 8 months ago* (last edited 8 months ago)

Yeah you can just say zero. I used to do that back when I was young and didn't earn enough to owe taxes.

The worksheets, exemptions, and filing status data you fill out on a W4 is not reported to the IRS or anything, it's just so they can look up a withholding amount in a table for you, but if you want something different withheld, just say so.

Remember that if you owe taxes that will mean the full bill will come due come tax season. No refund and sometimes a big outlay!