do they teach this in high school? I dropped out early and just took the GED. If they don't teach this, why the hell not? isn't school supposed to prepare me for the real world? WTF?
@NavicoreSolutions
6 жыл бұрын
Hi Dario, Some school teach financial literacy. We have lots of articles covering basic personal finance education that is accessible by everyone. you can find it here: navicoresolutions.org/community/blog/ Thanks for your comment.
@YoTeezy
6 жыл бұрын
Most do not i know i had to learn on the Go. Wasted 12 years for. Nothing.
@erinwang5752
6 жыл бұрын
Navicore Solutions GD morning and realized rddrrddrdrdrd willrrdr rdrd I f I
@erinwang5752
6 жыл бұрын
Dario Wirtha I
@erinwang5752
6 жыл бұрын
Dario Wirtha tt
@bjoyner302
7 жыл бұрын
This tax learning tip was very straight to the point and very informative! Great Job!
@NavicoreSolutions
7 жыл бұрын
Thanks Bruce
@pabloesco3373
6 жыл бұрын
Bruce J yes
@juliencassidyofficial
3 жыл бұрын
I've been looking for a simple and & explanation and this video nailed it! Thank you, great video!
@NavicoreSolutions
3 жыл бұрын
Thanks for the feedback Julien
@arleneaugustahair8393
5 жыл бұрын
I kept my life simple by just always filing S and 0.
@BabyJCali
3 жыл бұрын
@JRC why?
@ehr79
3 жыл бұрын
Single. Zero exemptions.
@SolitarySparrow
4 жыл бұрын
Thank you, you're the best. This is such a simple concept, idk how the IRS is capable of excessively complicating it so much with so much superfluous literature...very thankful for your video Are you married? How many kids? add them up and put # of allowances. Prolly just 1 or 2. How many paychecks do you get each year, how much money do you think you will pay us in taxes each paycheck. Are we collecting too little? Can ya put the difference in Additional withholding? kthx. None of this really matters BTW, we're the IRS if you try to cheat us WE WILL FIND YOU and penalize you.... with great attrition.
@drphot6050
3 жыл бұрын
Unless you’re the wealthy or President
@EverydayGworl
6 ай бұрын
This is exactly what I needed. Thank you!
@NavicoreSolutions
6 ай бұрын
We're so glad this could help!
@The_Oblivion_Light
3 жыл бұрын
Its as simple as this... Claim zero through the year if you are a single individual. This is allowing the IRS to take what they want allowed by tax law regardless of how much money you make. If you made over 100k as a single individual snd you claimed zero and they claim you owe, that is grounds for an investigation and a lawsuit. The maximum should of already been deducted with zero. When you claim one as a single and then prepare your taxes, you better have a dependant, otherwise you will have a small refund or you may have to pay back depending on how much money you made. DO NOT EVER CLAIM 99. I know quite a few people who do that. You will always owe!
@evader7773
Жыл бұрын
Um hello! The allowance is not automatically taken out! One has to consent. Withholding Certificate Allowance requires a signature (consent) to allow to withhold.
@AudaciousLex
6 жыл бұрын
I'm sorry. I'm confused how you said a single person with 1 job should put 1 on line A & B. But line B talks about being married. Why would I be putting 1 on line B?
@paulma222
5 жыл бұрын
Audacious Lex she may be referring to line D?
@tmac8892
5 жыл бұрын
1 part of line b clearly says to enter 1 allowance if you're single with 1 job.
@priscillap2095
5 жыл бұрын
How about if I have two jobs? Do I fill them out differently, or the same way? (Reason I ask this is because I was told to always do 0 for one of them if I get a second job)
@pnoyguitar
4 жыл бұрын
claim 2 on your 1 job, zero on the other. or 1 or 1 on each. BUT, your second job should make less than 1500 (something like that) Safe to do is claim 1 on your low paying job, zero on your high paying job. I remember paying taxes when I claim 1 on both jobs and they're both high paying jobs.
@jg2600
Жыл бұрын
Thank you i have freakin 7 and i dont know how that came about . This video just saved me
@ludovikopeluche8448
5 жыл бұрын
Put as many allowances as you want
@apolloniajacobs7608
4 жыл бұрын
Im single 1 job don't care about tax refund just want my check bigger I need to live throughout the year? So 4? Or 3?
@NavicoreSolutions
4 жыл бұрын
Hi Apollonia, This video is meant as a guide to understanding the W4 form. For specific information regarding your own situation it's best to consult you accountant. Thanks for your comment.
@whyneed1215
4 жыл бұрын
I need this answer also, same situation.
@NavicoreSolutions
4 жыл бұрын
@@whyneed1215 It's always best to get advice that is specific to your own situation. We recommend asking your accountant. Thanks for your comment, and good luck.
@NobleWolf33
4 жыл бұрын
Wouldn’t that get you in trouble?
@ceemarie3678
3 жыл бұрын
It's not good to get a tax refund back, that means the IRS is having fun making money off of your money with interest and only giving you back the money you paid too much of, so the best thing to do is look at how much you get back in income tax each year then divide that by 12, then go to the IRS.gov website and use calculator to try and see how many dependants you would need to claim so pay less taxes a year and not get in trouble. KZitem Dave Ramsey, he talks about this all the time and he stands by it.
@zay_y
5 жыл бұрын
If you live with your parents and are considered a dependent should I claim 0?
@valdemirorosa8234
Жыл бұрын
If I’m a college student, single and part time worker, should I change my w-4 to 0 and claim myself as not a student? I’m just asking because the person that did my tax told me to do that and idk if I’ll get in trouble for doing that knowing that I am a student…
@NavicoreSolutions
Жыл бұрын
You should follow the advice of your tax professional. If the individual who completed your taxes is not certified, then please consult a certified tax professional who can understand your unique situation. Thank you for your comment.
@junosynth
2 жыл бұрын
Thats great. How do I do the equivalent of 2 allowances on the new form?
@samanthaketchum214
6 жыл бұрын
Will you be submitting a 2018 W-4 video?
@chrsey7720
5 жыл бұрын
Thank you
@Hood.Housekeeping
5 жыл бұрын
You shouldn't pay any taxes. Now how much deductions CAN I deduct. I do not want to borrow the gov a dollar. They can and do print it themselves
@angelvictoria6730
6 жыл бұрын
Hello, I moved from Louisiana to North Carolina last year. I was shocked to hear I owed through IRS this year. I've never owed, and as a single woman I always filed "2" on my allowances. My new tax person said in North Carolina I need to file "0". I'm so confused. Help!!!!!!!
@NavicoreSolutions
6 жыл бұрын
Hi Angel, Ask your new tax professional to explain why they are suggesting a zero and to explain how your tax deficit came about. They should be able to clearly explain this to you as it pertains to your specific case. Good luck.
@jameswood7500
4 жыл бұрын
If its federal how can it be different from state to state?
@alikbey
4 жыл бұрын
Thank you..a video straight to the point!!
@NavicoreSolutions
4 жыл бұрын
Glad you liked it!
@samanthaketchum214
6 жыл бұрын
Will you be making a 2018 w-4 tax video?
@NavicoreSolutions
6 жыл бұрын
Hi Samantha, We won't be updating this video for 2018. The information is fairly consistent from year to year. If you have specific questions regarding your situation, ask your tax professional. We will continue to post videos on a variety of personal finance topics each month. Thanks for your comment.
@nezayorkina
6 жыл бұрын
Hello. Pretty easy to understand. In my situation its a bit harder. My husband makes about 75k, I make 40k. How will each one of us fill out a form? I currently have married and 2 and he has married and 3. We would of course want extra money but my husband gets taken out so much in taxes and at the end of the year when it comes to tax season we dont get back all that federal. :( any tips?
@NavicoreSolutions
6 жыл бұрын
Hi Mirian, This guide is meant to provide an overview of the W4 Form. If you have specific questions about your taxes and W4 forms, please contact your accountant regarding your situation. Thanks for your comment.
@arleneaugustahair8393
5 жыл бұрын
How many kids do you have in total? I always filed S and 0 because I’m able to get a good refund back. I can easily put money in my IRA one time and keep it moving.
@iShaybie
7 жыл бұрын
I'm confused.. according to the worksheet my allowances would be 5. isn't that too much?! won't i owe? can i put 1 anyway?
@NavicoreSolutions
7 жыл бұрын
Hi Shay, The number of tax allowances is different for each individual. If you're unsure, you should always check with your accountant. They can make the correct determination that relates to your specific situation. This guide is meant to provide an overview of the W4 Form and the examples given will not meet everyone's exact situation. Good luck. Thanks for your comment.
@iShaybie
7 жыл бұрын
Navicore Solutions I don't have an accountant; i have to figure this out on my own lol. I just want to know if people usually owe the IRS with 5 allowances..?
@NavicoreSolutions
7 жыл бұрын
Hi Shay, Unfortunately, we cannot provide tax advice specific to an individual’s situation. My recommendation would be to speak with your state’s division of taxation or local legal aid office for free tax advice. Thank you!
@tomwallen7271
7 жыл бұрын
The thing I like to say is... Owing is Good! If you end up getting a refund check in April, it means you've been letting the IRS hold onto all your money for a year that they're just now giving back to you (How would feel if someone took $1000 out of your paycheck, and then just gave it back to you a year later without any interest???) Same goes the other way around. When you owe taxes come April 15, it means you've been holding onto the IRS's money all year, and you give it back without any interest. That means you can put that money in a savings account, earning you interest all year, and they you get to give it back to them at tax season. So, if you're a good saver, it's beneficial for you to claim as many allowances as you feel comfortable writing down. But if you tend to spend any dollar you get your hands on, maybe you want to get the number right so you don't end up owing money you don't have.
@NavicoreSolutions
7 жыл бұрын
Yes, getting the balance right is satisfying. Thanks for your comment Tom.
@95InTheShade
6 жыл бұрын
My question is, why would anyone ever claim more than one allowance? No one actually wants to owe money during tax season do they?
@NavicoreSolutions
6 жыл бұрын
Everyone's situation is different. While most people will claim only 1 or 2 allowances, other's may be paying tax at a higher rate else where. Check with your accountant if you are unsure of what works best for you. Thanks for you comment.
@sooflex15
5 жыл бұрын
95InTheShade yea everyone is different I want more on my check and pay some back
@drewcassara
2 жыл бұрын
what’s the difference in tax withheld between allowance 1 or 2?
@ahmadibrahim5447
6 жыл бұрын
Hello, I have 2 questions can you help me with the answers. 1- Can I file jointly even if my wife is temporarily living overseas? 2- And do I have to have health insurance for her? even if shes not living in the US?
@NavicoreSolutions
6 жыл бұрын
Hi Ahmad, You have a very specific situation and questions. For the most accurate information you should contact a tax professional that can look at your situation in full. Thanks for your comment and good luck.
@DanielGarcia-ov2rx
3 жыл бұрын
iTS BeST TO conSulT yoUR acCoUnTanT
@NavicoreSolutions
3 жыл бұрын
Always! Your situation is...yours. Always get advice that addresses your situation directly. Thanks for your comment Daniel.
@NobleWolf33
4 жыл бұрын
Ugh why the fuck do we have to do this im so lost... why don’t they teach this in schools?! My dumb ass would sometimes put random numbers .... luckily nothing bad has happened to me.... but still...
@shahbazkhanjs
6 жыл бұрын
line 5 is where most folks on youtube cannot answer or gave example clearly .5 is confusing.alownces refer to dependents or the number after all the number at the end?any help
@NavicoreSolutions
6 жыл бұрын
If you have any specific questions about your own situation, the best thing to do is ask your tax professional. They will be able to give you the best answer for your specific scenario. Thanks for the comment.
@shyannekpana
5 жыл бұрын
They never do because they want you to go and pay for services... this is the very question most people struggle with and no will fully explain this
@Anandnagarajan11
7 жыл бұрын
A couple with only one income- can they not claim 3 allowance? line a, b and C all have 1 and if you add them up it comes to 3. Why did you skip line c?
@NavicoreSolutions
7 жыл бұрын
Hi Anand, This guide is meant to provide an overview of the W4 Form and the examples given will not meet everyone's exact situation. If couples are unsure of how many tax allowances to claim they should check with their accountant. Thanks for your comment.
@kathyadcock3541
7 жыл бұрын
Still need IDNUMBER for my card
@kathyadcock3541
7 жыл бұрын
Fun but I don't know the card I'D number how do I find it ...
@kathyadcock3541
7 жыл бұрын
Anand Nagarajan good
@NavicoreSolutions
7 жыл бұрын
Hi Kathy, Can you be more specific? Are you referring to filling in a W4 Form?
@gunroe3183
7 жыл бұрын
Never claim more than 2 from experience
@NavicoreSolutions
7 жыл бұрын
Claiming 2 allowances works for many people but everyone should take the time to go through the worksheet for themselves to be sure about what works form them. Thanks for your comment Cside.
@mily87ful
6 жыл бұрын
Navicore Solutions with 2 allowances I always pay almost 3k
@unEthiK
5 жыл бұрын
Navicore Solutions are allowances the same as exemptions? I would always put 2 exemptions on my W4 but would always have my HR rep do it. I started a new job and have no idea how to put my 2 exemptions , help ?
@joshuanixon6843
6 жыл бұрын
Great video, a few questions. I make 15k more than my wife to be, should I put down two allowances and zero for her or split it one for each of us? I'm getting married this month, so should I contact my HR department immediately or tell them next year? Lastly, should we file together or separately? Thanks!
@NavicoreSolutions
6 жыл бұрын
Hi Joshua, The safest thing for you to do is check with your tax professional. They will have all the information about your specific situation. Congratulations on your upcoming marriage! Thanks for commenting!
@pabloesco3373
6 жыл бұрын
What if I live alone and have two jobs?
@NavicoreSolutions
6 жыл бұрын
Hi Pablo, speak with your tax professional to get the right information for your specific situation. The video here is meant as a guide to get started with the W4 form. Thanks for you comment.
@pabloesco3373
6 жыл бұрын
Navicore Solutions Thanks
@josueisaac967
5 жыл бұрын
Do you have to file a joint tax if you’re married? Or can I do it by myself
@NavicoreSolutions
5 жыл бұрын
Hi Josue, You can file 'married but filing separately' but this will have an impact on some of the tax deductions that married couples who file jointly are eligible for. We suggest that you consult your local tax professional who can advise you on your specific situation. Thanks for commenting.
@glenn5517
5 жыл бұрын
please answer asap. i am 20 years old and live with my parents. i got my first job at mcdonalds and i need to fill out a w-4. i am most likely dependent. whats a better option 0 or 1?
@austyn3728
5 жыл бұрын
Clame 4 allowances
@davidcarter5246
4 жыл бұрын
Why would you start out a video saying it won't be fun, how about put some effort into it making it be at least kinda fun?
@chucktaylor824
3 жыл бұрын
This person definitely does not sound American 😂 this is for the US, right? Not the UK and Australia? Lol EVERYBODY moves here to the States so I'm sure (and wouldn't be surprised if) it's for the US.
@NavicoreSolutions
3 жыл бұрын
Hi Chuck, yes this is for the USA. While Australia and the UK have their equivalent W4 forms they are definitely not called "W4". Navicore embraces the diversity of the community and as such have an Australian narrator. Thanks for your comment.
@chucktaylor824
3 жыл бұрын
@@NavicoreSolutions Ok... mate 😂
@brendanoonan4155
6 жыл бұрын
I have 3 kids and I've worked a total of three different jobs what's the easiest way to fill out w 4 form cause I did it wrong last year and only got 350.00 for the whole year for my taxes lol
@NavicoreSolutions
6 жыл бұрын
Hi Brenda, the best way to ensure you're getting the right information specifically for your situation is to speak to a tax professional. You're HR department where you work might be able to provide some guidance too. Thanks for your comment.
@TheKrystolMethod
6 жыл бұрын
So I can claim 2 being single with 1 job?
@josephward5436
6 жыл бұрын
That's my situation and that's what I'm doing. 1 in section A plus 1 in section D equals 2. If you don't have dependents.
@austyn3728
5 жыл бұрын
You can clame as many allowances as you want, but 4 is pretty decent so you dont get a big tax refund, but at the end of the year you clame one dependent,
@myklelape2494
5 жыл бұрын
Text questions
@zitterich76
5 жыл бұрын
This video is not actually accurate. "Exemptions" as they are commonly and legally known on the W-4. They are NOT 'dependents' nor does the Federal Government have any 'right' to your capital up front. Compare this to a W-9 where one simply 'contracts' to other individuals/companies as a Business, Sub Contractor, or Individuals while using 100% of the income earned to pay for Capital Assets (commercial expenses, equipment, inventory, tools, supplies, phone, internet, uniforms) while paying a 'excise tax' only on the profit or gain left over. The same is true about the W-4. The difference is the fact you are classifying yourself as an "Employee" under Subtitle C. Now the "Sub-Contractor or Individual" whom now employees you now becomes a Federal Contractor mandated to assess certain 'taxes' on what they now call a Gross Wage - taxes such as FICA (15.3% with 50% paid by Employee), Unemployment Tax, Workman Comp Insurance/tax. It is still up to you, as with the W-4 to 'pay' your own Federal Income Tax which is nothing more than an "Excise Tax" on commercial activity. Contrary to what most people are told, the "LAW" states that your LABOR cannot be taxed as it is your own "property", and you have the right to exchange that labor for another asset - the "CAPITAL". Thus it becomes an even exchange of assets. This brings us to Exemptions on the W-4. All you are doing by telling the "individual" whom 'acts' as your employer, none less acting as the "tax collector" is telling him/her how many times you wish to "Exempt" your income from the Federal Income Tax (excise tax). Remember - you do NOT owe the 'income tax' on gross income, and you have every right to INVEST your capital earned by selling your labor in capital assets such as Land, Facilities, Equipment, Inventory, Tools, Supplies, Cell Phone, Internet, Clothing (uniforms), Vehicles, etc-etc otherwise known as your "Commercial Expenses". So lawfully, you can Claim 9 Exemptions thus exempting 100% of your Net Wage (gross wage minus FICA Tax minus Benefits) into your very own "Commercial Bank Account" which is attached to "Your Business Name (first and last name) and a E.I.N Tax Number. This account shields your Gross Income from the income tax allowing you to invest in your own commercial activity of selling your 'labor' to other persons. The amount left over after paying your commercial expenses is then assessed and you must determine as per threshold what tax rate (35,25,20,15,10%) to pay on your 'profit or gain'. The more you invest back in yourself, your labor which in fact is "your business" helps to shield your income from the income tax; while the amount in which you 'pay yourself' by withdrawing from your commercial bank account by transferring a small portion of your profits to a personal bank account used for Housing, Food, Entertainment is then the amount in which you owe a "income tax" which lawfully is nothing more than an EXCISE TAX on profit or gain from selling ones 'labor'. You have the constitutional right to sell your LABOR freely without the fear of being taxed, your labor is your property, the capital created from that labor is also property. You have the "RIGHT" to barter your labor as an even exchange, you have the "privilege" to commercially sell that labor for a profit or gain, while the government can 'tax' the gain or profit where you transacted with other American Citizens. Sadly, this is not taught in school, is not being told to the "people" and the people do not educate themselves in the very LAWS in which they write, needless to say, the CPA's, Tax Attorney's are federally 'contracted' to the IRS as to NOT provide any truth or facts of the TAX LAWS other than what they wish to provide you for a "profit" themselves. It is always up to YOU to voluntarily seek out and educate yourself in the very laws we write, the more you know the better off you will be. CPA's all know this, they simply will never tell you unless you actually ask, let alone mandate to them how you wish to manage your income. See, even CPA's and Tax Attorney's profit from this very "Federal Income Tax System" cause they now have the right to sell you 'copy righted material" the CODIFIED STATUTES for a profit. So it would be to their disadvantage to teach you the "law" itself. So now you know the truth - regardless of the fact you are a W-4 or W-9 Individual - you do not OWE any Federal Income Tax o your Labor/Gross Income if you so choose to 'invest' that same income back in your own LABOR (your business), Retirement Accounts, Healthcare Accounts, Education Saving Trusts, Personal Property Trusts all of which keeps up to 100% of your "income" invested fully within the borders of your Sovereign State where "WE THE PEOPLE" act outside the jurisdiction of the District of Columbia. When you assess yourself, and submit your "profit or gain" to the IRS upon the 1040 - you are placing that portion of your "income" inside the territory of the District of Columbia of which the IRS stands for "Internal Revenue Service" of that territory for anyone whom contracts or is employed by the Federal Government, let alone 'resides' within that jurisdiction. Best advice - do not use your Social Security # to sell your labor, for banking, or to contract as much as possible. Obtain a EIN Tax # to act commercially, thus contracting yourself to Cell Phone Providers, Internet Providers, Vehicles, Banks all of which keep you acting outside that jurisdiction. Where you are Forced to use a W-4 thus submit that Social Security # cause someone forced you to use it, simply 'claim 9 exemptions' and divert the income back to your Commercial Bank Account where you are fully invested in your own "LABOR" using the capital to pay for your Cell Phone, Internet, Tools, Supplies, Clothing, Equipment, Inventory, Commercial Properties, anything used to help "Sell" yourself to others, do your job, advertise your name to manage bank accounts, etc-etc. While the PROFIT or the amount left over is then assessed a 'excise tax'. So truthfully - when you fill out a W-4 - you are doing nothing but 'exempting' up to 100% of your Gross Wage keepign it free from the income tax cause you wish to invest that money first in property assets, before the Government can now grab it. You now owe the tax at the end of the week, the month, or the year depending on how you wish to manage yourself and your taxes. Questions?
@SuperLocoloco69
5 жыл бұрын
old
@rajivsupra2011
5 жыл бұрын
adulting.....
@peterhilton7353
2 жыл бұрын
It’s an excellently executed video, But I got recommended through the Team mates regarding Velicyberclinic and how he helps in making W4 forms
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