I am single, have 0 dependents and I am not a dependent either. What is the right number of allowances for W4? I am confused if it should be 1 or 2? Someone even told me it should be 0 else I might have to pay tax penalties. I would really appreciate if someone can help. PS: No trolls please.
There is a irs withholding calculator that will tell u what to put
Is it on their website ?
If you earn a significant amount from stock your allowances should be negative. You will either need to withhold an additional amount every paycheck or make quarterly payments. Failure to do one or the other may lead to an underpayment penalty a large year end tax bill. Use the withholding calculator
Put 0 and get a nice refund at the end of the year.
And apparently you have a very hard time reading directions.
Sorry I am not as smart as you. So need extra pointers! And if you think you are too good why are you even spending your time here!?
It’s just basic reading skills. Correct number is 1. As detailed in the W4 Instruction Sheet (with examples). 0 if you have a side gig. Add more withholding cash if the side gig is profitable. Be less Lost(boy)