You finally got that summer job and they give you this W-4 Form that they say fill it out, but how?
Ask Mom and Dad? They don’t know either because they haven’t filled one of those out in years…
Ask the boss? Well, you just got the job and don’t want to look like an idiot.
Here is how you do it.
We’ll just work from top to bottom front to back.
Personal Allowances Worksheet:
A: Enter “1” for yourself if yo one else can claim you as a dependent: Enter 0 (that is a zero) because most likely your parents are claiming you.
B: Enter “1” if your single and have only one job; or your married, have only one job, and your spouse doesn’t work; or your wages from a second job or your spouses wages are $1,500 or less: Enter 0 (another zero)
C: Enter “1” for your spouse… we can stop here because if its your summer job you probably aren’t married. If you want to look at the detailed discussion on withholding follow this link to find out more information.
D: Enter number of dependents… dependents are kids, do you have kids? then Enter another 0 (zero)
E: Enter “1” if you will file as head of household, so if you don’t pay more than 50% of the cost of keeping up the house, just Enter Zero here too.
F: Enter “1” if you have at least $2,000 of child or dependent care expenses… I’ll stop here again. Do you have kids? NO, then Enter Zero
G: Child Tax Credit…. another kid thing, no kids? Enter Zero
H: Add up the lines, well look at that, they all should be Zero’s. Enter Zero here and on Line 5 on the bottom portion of the form.
Now you are ready to complete the bottom portion of the form. The part that starts at “Line 1” is the part the employer actually receives. Your name, SSN, Address, you are single, then line 5 is zero as detailed above.
Line 6 should also be Zero
Line 7, do not write exempt unless you want a call from the government
Give it your John Hancock or signature and date it.
Line 8, 9, and 10 are filled in by the boss.
Easy peasy lemon squeezy, you are all done!
If you wanted to work through the back page follow this link to the discussion on withholding.