If I do not claim dependents on my W4, can I claim the number of dependents that I actually have on my tax return?
Yes. The number of allowances you claim on Form W-4 is used to calculate the tax withheld from your paycheck. However, the number of allowances you claim on your w-4 doesn’t have to match the actual number of dependents you have.
Claiming fewer allowances on form w-4 will result in more tax being withheld. This might result in a larger tax refund. However, it means you’re giving the government an interest-free loan. That’s because the government gets to keep more of your money until you get your refund.
If you need help handling an estate, we're here to help. Learn how to file taxes for a deceased loved one with H&R Block.
If you’re itemizing deductions, the IRS generally allows you a medical expenses deduction if you have unreimbursed expenses that are more than 7.5% of your adjusted gross income for tax years 2017 or 2018. You can deduct the cost of care from several types of practitioners at various stages of care.
Spending your time volunteering is a great way to give back. Learn more about the tax benefits for volunteer work when filing your taxes at H&R Block.
Do you know what your tax filing status is? Learn how to determine and check your tax filing status with H&R Block.