Should Teenaged Son Working First Part Time Job Claim One or Zero Tax Exemptions?? (taxes, dollars)

[oldhousegirl]

Hi everyone. My son will be working this summer in an effort to help with his upcoming college tuition. He is a senior in High School and this will be his first job!

As far as the tax forms - I know he likely won't have to file taxes because he will probably earn about $1200 dollars or so. I thought that if one earned less than the standard deduction taxes did not have to be filed. Is that correct?

I want him to have the experience of completing the tax forms, seeing his paycheck and where the money goes, etc. I don't think it would be a bad thing if he did need to file taxes. But I am not by any means encouraging any type of refund.

For some reason, I am having a hard time picturing the whole 1040 EZ form, intro tax liabilities and all of that.

Thanks!!!!

[Johnson15]

When i was that age i always claimed 0 that way come tax time i would get back everything i paid in. In one check for my birthday lol

[md21722]

He should probably write EXEMPT or 2 (lower numbers on the W-4 cause higher withholding)

If he is likely to earn less than the standard deduction and exemption, he could try writing EXEMPT on his W-4 and then they shouldn't withhold anything.

If they won't allow him to write EXEMPT I would write 2.

[golfgal]

Originally Posted by md21722

He should probably write EXEMPT or 2 (lower numbers on the W-4 cause higher withholding)

If he is likely to earn less than the standard deduction and exemption, he could try writing EXEMPT on his W-4 and then they shouldn't withhold anything.

If they won't allow him to write EXEMPT I would write 2.

Most people don't qualify for "exempt" any more like we did when we were kids.

Our kids claim 0. If they claimed 1 they would owe money at tax time, which isn't a bad thing but just not necessary and the $2.38 the government earns on that little bit of overpayment really doesn't make a difference to them.

[Squirl]

zero

[oldhousegirl]

Thanks so much everyone. He is at the place now, I just texted him. I had initially told him 1, thinking that he would have more available money in his paycheck and would not have to file taxes. But if he claims 0, he would HAVE to file to recoup the overage right?

[md21722]

I think you will have to file taxes either way. The withholding system is not an exact science, but you can get it close.