So, if it's your first job or you have simple taxes/finances the image below will tell you exactly how to fill it out correctly.
A few bullet points of interest:
- I am no where remotely close to a tax or finance advisor. My online research helped me develop this solution. I've just seen lots of confused people.
- This is only meant for extremely simple taxes and finances. Perfect if you are a teenager or single with no children. (Although, I am married with 3 kids and still am at a 1.)
- You can replace the 1's with 0's if you would like a larger refund when you file your taxes.
- IF you use 0's instead, you will pay MORE tax throughout the year -- hence the larger refund.
- Using 0's means Uncle Sam will be sitting on YOUR money all year when you could have had it all along.
- If you are working in North Carolina, this is how to fill out the NC4 EZ.
- DO NOT ADD ADDITIONAL TAX. Unless you anticipate on winning the lottery. :)
- Make sure to fill out the rest of the stuff --- like your name, address, SS#, and for the love of God, please sign and date it.
- If I have made a gross error here, please let me know in the comments so that I can update my post.