How to fill out the IRS Form W-4 Single Employment No Dependents


today we’re gonna be talking about filling out the w-4 today we’re gonna focus on the single tax filer who has one job and has no dependents my name is Travis Sickle CERTIFIED FINANCIAL PLANNER with Sickle Hunter Financial Advisors Okay before we get started it’s important to note that this video for the w-4 is specifically for the single taxpayer who has no dependents so you’re not taking care of any children you don’t have any dependents such as parents living with you or grandparents or other family members nobody depends on you financially also you’re also not a dependent of anybody else so even if you’re living at home as long as mom and dad aren’t supporting you financially then this video is gonna be for you so if they’re not claiming you as a dependent and you’re still on your own maybe you’re paying rent then this video is gonna help you fill out the w-4 okay this is the w-4 form and we’ll put a link down at the bottom if you don’t already have one this is the 2017 version and you can still use it even though it’s 2018 the IRS has said that they’ll make it so any of the employers that have the W for 2017 version on file will be able to convert that into the 2018 version right up here you can see the purpose of the w-4 and it’s to complete the w-4 so that your employer can withhold the correct federal income tax from your pay so this is going to effect each and every single paycheck that you receive and you’re gonna see withholdings come out of those checks primarily today’s focus is going to focus on this middle section right here on page one and it’s gonna be the personal allowances worksheet we’re going to go ahead and jump right in to line a answer one for yourself if no one else can claim you as a dependent so you’re gonna put a one here again this video is for those who are single again the w-4 that we’re filling out today is for a single with no dependents on line B enter one if any of these apply so you’re single AB only one job so we’re gonna go ahead and put a 1 because we know that this first one is going to be true in this instance if you’re married have only one job or your spouse doesn’t work again we’re filing this for an individual so if you’re married this video isn’t for you and if your wages from a second job a second job is going to change it slightly so we want to make sure that you only have one job in this scenario but since this first one is true we’re gonna go put a 1 right in line be online see enter one for your spouse so you could stop right there because in this instance you’re single so we’re gonna put a zero line D enter number of dependents you won’t have any dependents if you’re filling out this online D enter number of dependents you will claim on your tax return in this instance we don’t have any dependents so we’re going to go ahead and put another zero on line e enter one if you’ll file as head of household on your tax return now head of household the definition is right up here I’m gonna highlight it for you head of household generally you can claim head of household filing status on your tax return only if you are unmarried and pay more than 50% of the cost of keeping up a home for yourself and your dependents so it’s that that dependent portion is really important to understand that’s what the difference between an individual and head of household is is whether or not you have dependents and in this case we don’t have any dependents so for e we’re gonna put a zero on line F enter one if you have at least two thousand of child or dependent care expenses for what you can claim as a credit you’ll put a zero there because in this case we don’t have any dependents you’re not gonna have any children that you’re financially responsible for line G is for the child tax credit so the same thing we’re gonna go ahead and put a zero for G because we don’t have any dependents we don’t have any children that were financially responsible for line H add line a through G and enter the total here that’s going to be 2 H is the last line item that you’re going to fill out as far as calculating how much you’re going to with halt so on the very bottom this is going to be the section down here that you’re going to provide to your employer so you’re actually gonna cut it with a scissor just cut right on this dotted line right here so here’s where you’re just gonna put your name right here your first name your last name your social security number your home address and you are single so you’re gonna check that off and in line 5 total number of allowances you are claiming from line h above or the applicable worksheet on page 2 we’re gonna go up to H it says 2 so on line 5 you’re gonna put it two down here you’re gonna sign you’re gonna date it you’re gonna put your employer’s name and address and then you’re gonna put their e aí n their tax code if you don’t know it ask them they’ll be able to provide it for you there is a page too but we’re not gonna fill it out in this instance because this is only if you’re gonna itemize that’s only if you have additional itemized deductions that you want to claim so over here you can see it says itemized deductions in this case we’re not going to fill it out and on the very bottom here or in the middle in the middle here you’re gonna see two earners multiple jobs worksheet again you’re filing as an individual so we’re not gonna fill out the two earners multiple jobs worksheet that’s all you need to do hand in that bottom part and that will all that that is all that you need to do hand in the bottom of the w-4 and you are all set the w-4 is designed to help you estimate the amount of taxes that you’re going to owe at the end of the year it won’t actually affect the amount of liability that you have in your taxes only the estimation of those taxes so you can pay throughout the course of the year rather than finding out that you have a huge tax liability at the the year it’s also required by the IRS in depending on your current filing situation if that were to change go ahead and refill out the w-4 and of course if you get a new job you’ll want to fill out another w-4 as well if you’ve enjoyed this video be sure to subscribe and leave your comments down at the bottom

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