OK - I need help in explaining to my 16YO DD how to fill out a W-4 (withholding form)

[clh2]

Does anyone have a quick down and dirty explanation on how a 16 year old should fill out a w-4 form???

She is not buying my explanation of "just put in a "0" for the number of allowances.

DH's and my tax withholdings are a little more complicated, so I get how to do the complicated explanations, as they pertain to our withholding. I just don't understand the "easy" little or no income, situations.

THANKS A BUNCH!!!!!

 

[HETRICKL]

If she claims 0 allowances, it will withhold the most taxes possible, leaving the least amount of net pay. At that age, if this income is all she has, she probably can claim 1 allowance, and this won't give her a big refund or make her pay at year end. If you want to look at the form and instructions yourself, you can at www.irs.gov.

 

[delmar411]

she needs to fill in 0's or else she'll owe money at tax time. She has nothing to claim since she's a dependent.

http://www.irs.gov/publications/p929/ar02.html

Here is the IRS withholding calc too

http://www.irs.gov/individuals/page/0,,id=14806,00.html

 

[LizinSTL]

Does anyone have a quick down and dirty explanation on how a 16 year old should fill out a w-4 form???

She is not buying my explanation of "just put in a "0" for the number of allowances.

DH's and my tax withholdings are a little more complicated, so I get how to do the complicated explanations, as they pertain to our withholding. I just don't understand the "easy" little or no income, situations.

THANKS A BUNCH!!!!!

Just let her know that she'll have zero tax liability as someone with a projected income of less than about $5000. She doesn't need to put zero, she could probably claim 1 and still get a nice little refund in April. What's her projected annual income?

Have her answer these questions... http://www.irs.gov/individuals/article/0,,id=96623,00.html