Have a Tax Question? Ask a Tax Expert
What is your filing status? If you are married, does your spouse have any income?
Do you have dependents? If so, how old are they?
Do you have any other income?
Do you own a home, contribute to charity, contribute to an IRA, pay student loan interest, or have any other deductions?
This brings about more questions.
Will you be marrying your fiance this year? If so, what is her income?
How many times will you be receiving this monthly bonus?
Since you own your own home, do you have a mortgage? What is the yearly interest on the mortgage? What are the real estate taxes?
It looks like you will not be able to itemize with no state income taxes, very low mortgage interest and real estate taxes, and no other deductions.
Your filing status is Single.
I ran your information through a W-4 calculator. You should be claiming "Single with 2 exemptions" and withholding $1 extra every paycheck. This should leave you with a refund of about $20 at the end of the year and maximize your take-home pay.
Please let me know if I can assist you further.
if i have insurances and uniforms deducted will that matter
It depends on whether or not your insurance is pre-tax or after-tax. Your uniforms will only count if you can itemize deductions, which it doesn't seem like you are able to.
Here are the things you can deduct on your Schedule A, Itemized Deductions:
- Medical expenses (in excess of 7.5% of your AGI)
- State income tax or general sales tax
- Mortgage interest
- Real estate taxes
- Personal property tax
- Charitable contributions
- Casualty and theft losses
- Unreimbursed employee expenses (in excess of 2% of your AGI)
- Gambling losses (to the extent of your winnings claimed)
All of these things have to exceed $5,450, which is your standard deduction for filing single.
Let me know if you need additional clarification.
what if i claim head of household
If your fiance does not have at least $3,500 of income for the year, you may claim her IF she lives with you all year long. You may not claim her daughter because she is a "qualifying child" of her mother and therefore, does not qualify as a qualifying child for you.
If you claim your fiance, you may not claim head of household. The dependent must be your relative to qualify you for head of household. If you decide to do this, you may claim "Single with 3 exemptions" and have an additional $1 withheld from every check. This will leave you with a balance due of $15 at the end of the year.