Do you have experts in filing taxes?
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I just have a question...for last year taxes I included my son as dependent because he lives with me and he did not make more than a certain amount in earnings. He just got a job and I'm estimating he will not be my dependent for the next filing. When he filled out the hiring forms he was asked to chose tax "status" (?) but we did not understand what to put there. I think he left it blank. Anyway, I don't have the forms in front of me now but was wondering if he should have selected something in particular. I guess that will impact how much money they deduct every month? He should not end up owning a lot of money to pay at tax time! Thanks.
I'm going to bed now...I'll follow up tomorrow. Thanks for any information you can send me.
Sorry about the delay. I was answering another customer's question.
Assuming this is for US taxes if your son is not a dependent in 2012 (as you suspect, due to his income), he should put "single" and probably 2 exemptions on his W-4.At least that's what the instructions for the W-4 usually say, if he doesn't have significant investment income.
there seems to be a glitch in the system and the questions/answers repeat themselves...I will look for the form I'm talking about to be more specific. Thank you for your willingness to help me.
Hello. My specialty is focusing on YOUR Financial needs. Financial Planner/Business Owner for 20 years. CPA,PFS,QFP,GMMA.
Please accept this experts answer as he is correct and should get paid. Thanks.