darkguy2 wrote:Yes you should. There is no point to having a return that high. Worst case scenario is that you will owe a bit. But the thing is you will still have the same amount of money in the end. The amount of taxes you owe does not change based on the number of deductions you take. So you will have to pay the same amount. If you have to pay then that means that you got to use that extra cash earlier. There really is no benefit to a high return.
Well, for me it is different..
Odd years (2015, 2017, 2019, 2021, 2023 etc... etc...) I will be claiming my son. So yes, if I claim 1 on my W4 I will still get a refund b/c I will be claiming my son as well as Head of Household (HOH).
Now on even years (2016, 2018, 2020, 2022, 2024 etc... etc...) I will be SINGLE. If I claim 0 I will get the most taxes taken out of my check and get a refund at the end of the year. Now if I claim 1, (less taxes taken out) will I end up owing on the those years where I claim 0???
I'm very frugal and responsible with my money. I could use the extra money in my pocket. being that I am divorced, I do pay a pretty penny for Child Support as well as Health Insurance for my child and I...
So any other thoughts or opinions? Should I claim 1 on the ODD years and 0 on the EVEN years? Or should Ijsut claim 1 from here on out?????