Should I Claim 0 or 1 on My Taxes?

Answer Whenever you start a new job, you will need to fill out IRS Form W-4 to indicate how much in federal taxes you want your employer to withhold from your paycheck. Many people elect to choose either ... Read More »

Top Q&A For: Should I Claim 0 or 1 on My Taxes

What does it mean to claim yourself on your taxes?

When you claim yourself on taxes you are claiming a personal exemption;this exemption reduces your taxable income by $3,650 (as of 2010). You cannot claim this exemption if someone else meets the t... Read More »

Can You Claim a Teenager on Your Taxes If She Has a Job?

The IRS allows you to claim any teenager as a dependent if he satisfies the requirements as either a qualifying child or qualifying relative. Each set of requirements imposes different limitations ... Read More »

Can you claim bankruptcy on taxes?

Even if you claim bankruptcy, you will still owe on most taxes, according to Nolo. You will have better luck discharging tax debt under a Chapter 7 bankruptcy versus a Chapter 13. You can discharge... Read More »

Do I have to claim a cruise I won on my taxes?

You must claim the value of a cruise won in a contest on your income taxes according to WorldWideWeb Tax and the Internal Revenue Service. For non-cash prizes, people must estimate the fair market ... Read More »