1. The W-4 Form
The W-4 form tells your employer the withholding rate for your pay.
You must claim your filing status:
single, married, or married but withhold at the higher single rate.
If you want no taxes withheld, then claim yourself as a student.
Otherwise, you can claim anywhere from 0 allowances to 15 allowances.
The more allowances you claim, the less money is withheld..

2. Withholding Comparisons - $785 Per Week

3. The W-2 Form 2009 20-3035285 Apex, Inc 131 5th Avenue
31,245.65
2,835.41
31,245.65
Apex, Inc
131 5th Avenue
New York, NY
1,937.23
31,245.65
453.06
Gary Gaines
127 West 18th Street
Apt 3C
New York, NY NY
31,245.65
1,047.22
31,245.65
944.73
NYC
2009

4. Filing Status Single (S)
Unmarried at the end of the year and have no dependents.
Head of Household
(HH)
Unmarried at the end of the year but have a dependent.
Qualifying Widow (er)
(QW)
You were widowed in the previous 2 years, and have a dependent child.
Married Filing Jointly
(MFJ)
Married at the end of the year and lived with your spouse.
Married Filing Separately
(MFS)
Married at the end of the year and lived apart from your spouse.

5. The Basic Parts of a Tax Form
Standard Deductions
Gross Income
Single ,700
Married Filing
Jointly ,400
Separately ,700
Head of
Household ,350
Qualifying
Widow(er) ,400
+/- Adjustments
= Adjusted Gross Income (AGI)
- Standard or Itemized Deduction
3,650 for
each person
on tax return.
- Personal Exemptions
= Taxable Income
Tax Liability
- Tax Payments Made
= Refund or Amount Due

6. Federal Tax Liability Comparisons

7. Being a Dependent vs Not Being a Dependent
Assume you get paid $250 a week, and you worked a total of 50 weeks during the year.