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I will be working this summer for nine weeks, and making a fair amount of money, about $1,500 a week. My issue is that as it stands with my usual two W-4 exemptions, I'll be paying as though I'm making $1,500 a week all year. I'd rather have my money now than waiting six months to get my refund check. Is there something I can do with my W-4?


The BIDaWIZ Team's Answer:

Yes, you can certainly adjust your withholding. You stated that you will be making $1,500 a week for the summer or $13,500. This suggests a federal tax liability for the year of $352. Is that your entire income for the year? Also, are you single and do you have any dependents? If that is your income for the year and you are single and have no dependents, you should claim between 12 and 14 allowances.

The BIDaWIZ Team



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