I'm filling out my W4 I'm about to start a new job...what does this mean? HELP
"I claim exemption from withholding for 2017, and I certify that I meet both of the following conditions for exemption.
Last year I had a right to a refund of all federal income tax withheld because I had no tax liability, and
This year I expect a refund of all federal income tax withheld because I expect to have no tax liability.
If you meet both conditions, check “Exempt” box"
Comments
JUST GUESSING BUT SOUNDS LIKE
A) last year I got refunded some money because I paid more taxes than I owed
and
B) This year I expect a refund because I'll pay more then I owe
The higher the number in the boxes the less taxes they take out. = a lower refund at the end of the year.
Even though I claim myself and pay for my entire life I always put 0 because it takes the most out and giveaways me the biggest refund (I live with my parents and don't have many bills as a college student)
ShadowBaller000Em002Ridster so idk if i should select exempt LMAO...this is what comes up
You are choosing to be exempt from taxes on your Federal W-4 form which means NO federal income tax will be withheld from your pay.
Are you sure you want to claim Exempt?
If yes, click OK and click the Submit to Employer button. If not, click OK, unselect the Exempt check boxes and complete the rest of the form.
A) last year I got refunded some money because I paid more taxes than I owed
and
B) This year I expect a refund because I'll pay more then I owe