close
    if you claim 2 on your w-2 how much will be taken out

    0  Views: 468 Answers: 1 Posted: 12 years ago

    1 Answer

    It depends on which tax bracket your annual income would be in, if multiplied by the number of weeks that amount would total if you earned that amount for 52 weeks. 


    The amount withheld is not the same as the tax DUE at the end of the year.   You tax due is based on your total annual income AFTER your allowable deductions


    I.E.  Say you earn $1,000 a week FOR 52 WEEKS.  You total tax due AT THE END O F THE YEAR, would be on $52,000


    If say you earned $2,000 in one week you withholding amount would be based on an annual amount of $104,000, even though you annual income would only go up by $1,000 to $53,000


    One is best served by claiming one MORE dependent than one has, which you can legally do..   If you are married and have two children, claim 5 for withholding, not four and certainly not three since that amount witheld will be closer to you actual tax due at the end of the year.  


    Your refund will be lower but that is better than LENDING the US Treasury your money for a whole year, on which they will not pay you any interest.


     


     


     


     


     


     



    Top contributors in United States category

     
    ROMOS
    Answers: 62 / Questions: 0
    Karma: 3105
     
    Colleen
    Answers: 168 / Questions: 0
    Karma: 2910
     
    Benthere
    Answers: 1 / Questions: 0
    Karma: 1530
     
    country bumpkin
    Answers: 24 / Questions: 0
    Karma: 1485
    > Top contributors chart

    Unanswered Questions

    joosomoa
    Answers: 0 Views: 2 Rating: 0
    nhacai 88fhot
    Answers: 0 Views: 5 Rating: 0
    HCM66
    Answers: 0 Views: 5 Rating: 0
    A8BET
    Answers: 0 Views: 7 Rating: 0
    tp88pamcom
    Answers: 0 Views: 8 Rating: 0
    Viện thẩm mỹ Dongbang
    Answers: 0 Views: 7 Rating: 0
    23winpwcom
    Answers: 0 Views: 10 Rating: 0
    > More questions...
    469829
    questions
    722681
    answers
    791305
    users