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MrsMick
Baby #2 debuts in March 2016!
Member since 9/09 1977 total posts
Name:
Michele
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Claim 0, 1 or 2 or more
Now that tax season is here, I am always curious as to how much people claim.
We like to get a refund so we claim 1.
Is it possible to claim more and still see a nice refund?
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Posted 2/22/17 11:06 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
evrythng4areason
And then there were 4
Member since 1/10 5224 total posts
Name:
Kayla
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Claim 0, 1 or 2 or more
I still claim as a single, so I get a nice chunk taken out of my taxes. Dh worked the numbers for his to try and minimize our refund and maximize his regular checks, so he claims some weird number. We still end up getting money back from federal and owing for state though.
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| Posted 2/22/17 11:12 AM |
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marycpa
LIF Adolescent
Member since 7/07 635 total posts
Name:
Mary
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Re: Claim 0, 1 or 2 or more
I claim 7 and we pretty much break even. I also have 4 kids so it's pretty much one for each in our family plus one for itemized ddductions. (Mortgage into and real estate taxes).
It's not that I don't like getting a refund, it's that I don't like giving the government interest free loans.
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| Posted 2/22/17 11:48 AM |
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ANewDayHasCome
Love multiplies, not divides
Member since 11/12 14481 total posts
Name:
Me
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Claim 0, 1 or 2 or more
I haven't worked since before I had kids, but I always claimed 1. I'd rather get a nice refund instead of owing.
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| Posted 2/22/17 11:49 AM |
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KarenK122
The Journey is the Destination
Member since 5/05 4431 total posts
Name:
Karen
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Claim 0, 1 or 2 or more
We claim 0 and get a substantial check back each year. Everyone lectures me on how I shouldn't let the government hold my money, blah blah but I am the worst saver in the world and this money in my mind is found money so it is used for vacations and house projects, which I wouldn't be able to do otherwise because I'd spend the money if it was in my paychecks every week. If we needed the cash on a weekly basis though, I'd claim 2.
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| Posted 2/22/17 11:59 AM |
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NervousNell
Just another chapter in life..
Member since 11/09 54921 total posts
Name:
..being a mommy and being a wife!
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Re: Claim 0, 1 or 2 or more
As others have said- it all works out the same.
It's 6 of one, half dozen of the other, kwim?
If you want more money in your check each week vs. if you want less in your check but it back in a lump sum at refund time.
Ideally you should be getting $0 back and paying $0...that is what my boss once told me.
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| Posted 2/22/17 12:01 PM |
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lightblue
LIF Adult
Member since 1/17 2249 total posts
Name:
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Re: Claim 0, 1 or 2 or more
We both claim 0. We usually get a nice refund.
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| Posted 2/22/17 12:10 PM |
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lightblue
LIF Adult
Member since 1/17 2249 total posts
Name:
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Re: Claim 0, 1 or 2 or more
Posted by KarenK122
We claim 0 and get a substantial check back each year. Everyone lectures me on how I shouldn't let the government hold my money, blah blah but I am the worst saver in the world and this money in my mind is found money so it is used for vacations and house projects, which I wouldn't be able to do otherwise because I'd spend the money if it was in my paychecks every week. If we needed the cash on a weekly basis though, I'd claim 2.
Yes, this is my reasoning as well.
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| Posted 2/22/17 12:11 PM |
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PearlJamChick
No one sings like you anymore.
Member since 7/10 9264 total posts
Name:
Petticoated Swashbuckler
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Re: Claim 0, 1 or 2 or more
We claim 0. No kids. Substantial refund.
I knowwww that it means we are giving the government a loan and blah blah blah but we like getting the money back. We use it for house projects.
We still save a considerable amount and make 401k contributions. I'm sure I could sit down and do the math to figure out how to break even but I honestly just don't give a shit about it.
It works for us!
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| Posted 2/22/17 12:25 PM |
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blu6385
Member since 5/08 8351 total posts
Name:
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Re: Claim 0, 1 or 2 or more
We claim I think 0 or single zero whatever that means. We get a decent amount of money back. And like others I know it gives the government a free loan but we are not good savers so I like lump sump at the end.
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| Posted 2/22/17 12:43 PM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Claim 0, 1 or 2 or more
0. Married with one kid. I know you're not supposed to be giving the government an interest free loan but I don't like surprises.
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| Posted 2/22/17 12:50 PM |
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Otherme
Square head cutie pants
Member since 3/06 6899 total posts
Name:
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Re: Claim 0, 1 or 2 or more
Posted by PearlJamChick
We claim 0. No kids. Substantial refund.
I knowwww that it means we are giving the government a loan and blah blah blah but we like getting the money back. We use it for house projects.
We still save a considerable amount and make 401k contributions. I'm sure I could sit down and do the math to figure out how to break even but I honestly just don't give a shit about it.
It works for us!
This!
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| Posted 2/22/17 12:55 PM |
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pumpkinmom
LIF Adult
Member since 5/12 2911 total posts
Name:
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Claim 0, 1 or 2 or more
You should be able to find a formula online for how much gets witheld. I had to look it up the year after we got married because we ended up owing too much.
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| Posted 2/22/17 1:00 PM |
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Blazesyth
*yawn*
Member since 5/05 8129 total posts
Name:
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Claim 0, 1 or 2 or more
We each claim married 1. We have to pay at the end of the year. I prefer to have the money available throughout the year if I need it.
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| Posted 2/22/17 1:05 PM |
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melbalalala
Little Lady
Member since 5/07 5014 total posts
Name:
Melissa
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Re: Claim 0, 1 or 2 or more
Posted by marycpa
I claim 7 and we pretty much break even. I also have 4 kids so it's pretty much one for each in our family plus one for itemized ddductions. (Mortgage into and real estate taxes).
It's not that I don't like getting a refund, it's that I don't like giving the government interest free loans.
ding ding ding!! I never got the whole "I want the gov't to take a lot of money out of my check and give it back to me at the end of the year" philosophy, it's YOUR money, invest it and make money for yourself on it.
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| Posted 2/22/17 1:19 PM |
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BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name:
proud mommy
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Claim 0, 1 or 2 or more
it really depends on your situation (kids, house, retirement contributions, deductions, etc). we have 2 kids, house, work deductions, etc. my husband claims zero and i claim 2. we always get a good return. it works for us.
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| Posted 2/22/17 1:22 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Claim 0, 1 or 2 or more
We usually claim 1.
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| Posted 2/22/17 1:55 PM |
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MrsM429
Mama x2 <3
Member since 12/10 4946 total posts
Name:
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Re: Claim 0, 1 or 2 or more
We claim married 0 and do not receive a refund we also do not have any major deductions (house,kids,etc).
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| Posted 2/22/17 9:23 PM |
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mommy2be716
LIF Adult
Member since 1/16 2921 total posts
Name:
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Claim 0, 1 or 2 or more
we each claim 1, but still didn't do so well in our taxes. I think we got like $300 state and about $1500 federal. We kind of expected to do better since we have a baby and a house but oh well. Last year we owed so i have no idea how the hell it works out
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| Posted 2/22/17 9:31 PM |
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MrsM84
LIF Adult
Member since 2/13 2352 total posts
Name:
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Claim 0, 1 or 2 or more
DH and I both claim married 0 and have 1 child. We get a pretty decent federal refund and a small NYS refund. I'm a teacher and while I save throughout the year when possible, we rely on our tax refund for money for the summer to pay bills.
Message edited 2/23/2017 3:35:43 PM.
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| Posted 2/23/17 3:33 PM |
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Katareen
5,000 Posts!
Member since 4/10 7180 total posts
Name:
Katherine
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Re: Claim 0, 1 or 2 or more
Posted by melbalalala
Posted by marycpa
I claim 7 and we pretty much break even. I also have 4 kids so it's pretty much one for each in our family plus one for itemized ddductions. (Mortgage into and real estate taxes).
It's not that I don't like getting a refund, it's that I don't like giving the government interest free loans.
ding ding ding!! I never got the whole "I want the gov't to take a lot of money out of my check and give it back to me at the end of the year" philosophy, it's YOUR money, invest it and make money for yourself on it.
I think some people have trouble saving each month, and this forces them to save a little because they don't have access to the money each paycheck.
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| Posted 2/23/17 5:04 PM |
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NervousNell
Just another chapter in life..
Member since 11/09 54921 total posts
Name:
..being a mommy and being a wife!
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Re: Claim 0, 1 or 2 or more
Posted by MrsM429
We claim married 0 and do not receive a refund we also do not have any major deductions (house,kids,etc).
Same. I had to adjust mine to let them take more and more out each check because we were getting hammered every year with a bill - never a refund.
When DH was working he was able to itemize deductions- that helped.
Now that he is retired we can't do that anymore and our mortgage is almost paid off so not much interest left to deduct, no childcare anymore, etc.
So I adjusted mine to try and soften the blow at the end of the year.
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| Posted 2/23/17 5:09 PM |
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stinger
LIF Adult
Member since 11/11 4971 total posts
Name:
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Re: Claim 0, 1 or 2 or more
Single HOH 4 and get a refund
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| Posted 2/23/17 5:17 PM |
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gina409
TWINS!
Member since 12/09 27635 total posts
Name:
g
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Re: Claim 0, 1 or 2 or more
We claim zero
Get a large refund and love it
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| Posted 2/23/17 9:46 PM |
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babydreams21
LIF Adult
Member since 12/12 3656 total posts
Name:
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Re: Claim 0, 1 or 2 or more
Posted by LuckyStar
0. Married with one kid. I know you're not supposed to be giving the government an interest free loan but I don't like surprises.
Exactly this. I've had the same job since I was single so I just left it at single 0. We get a nice refund.
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| Posted 2/23/17 10:11 PM |
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