Frage von casey: What is the difference between 1 and 0 tax exemptions?
I’m a college student and I’m working a minimum wage, part-time job. I noticed on my paycheck that my federal tax exemption is a 1 and my state tax exemption is 0. I don’t really understand to well what the difference between a 1 or a 0 is.
I was wondering if I would get money or lose money when tax time comes around. Thanks!
Beste Antwort:
Answer by tro
0 they are withholding the maximum amount of income tax that the schedules allow
the difference might be as little a $ 9 but it will depend to a great degree on the gross amount
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1 exemption is for yourself.
0 exemptions is used when your parents claim you as their dependent.