Single, filing self as dependent on paycheck...need advice
I have a relative that has just gotten a job and wants to know whether to file 0 dependents or not. She is concerned about having to pay taxes at the end of the year, but could really use the extra money in her paycheck now if she claims herself. Is the difference in the paycheck going to be that much if she doesn't claim herself now? How is this determined? She will only be making around $7.50 an hour...full-time. She lives in Virginia if that makes any difference in the tax laws.
I was unable to help her as I have never claimed dependents except during tax time....and fortunately have never had to pay back taxes either in my entire working career of 30 years.
Thanks for any advice.
I posted a similar question on the Kitchen Table as I need speedy responses. Hope that this is acceptable.