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should i claim 1 or 0 on my w4

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I am a single male...
I am a single male and I have no one to claim. I seem to never get much back for refunds and I am not sure if the reason is because I claim myself (1) on my w4. Should I claim (0) to get the most back?
Submitted: 12 years ago.Category: Tax
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Answered in 2 minutes by:
1/31/2005
Tax Professional: Jon Andrews, Certified Public Accountant (CPA) replied 12 years ago
Jon Andrews
Jon Andrews, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 3,118
Experience: I deal with all levels of tax planning and controversy - from the ordinary to the complex.
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Claiming 0 will get you the highest refund, but that is offset by the fact that your regular paycheck will be lower. Some people use that as a "savings account" so that they do get that big refund, but, if you are financially responsible, you are better off getting the money throughout the year and not getting a huge refund.


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