- quote -

thanx Bob, and your assumptions are 100% correct. sorry for
the delay but work got me tied up.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

"pfecik[at]gmail.com" <pfecik[at]gmail.com> wrote:

- quote -

I would suggest, since you're an educated college graduate,
that you read the instructions and follow the worksheet that
comes with the W-4.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

- quote -

You didn't give all the relevant details, so I am making
the following assumptions.
- $41,000 is your total income for the year, and it is all
from salary.
- You have only one job.
- You have no significant income from any other sources
(interest, dividends, other investment income, etc.)
- You are not supporting your parents. I.e. they are paying
more than half of their own living expenses.
- Your parents are not supporting you. I.e. you are paying
more than half of your own living expenses.

If those assumptions are correct, then on the NJ-W4 form do
not enter any letter from the chart. Leave line 3 blank.
Enter 1 on line 4 (number of allowances).

Living with your parents, paying rent, and your parents'
income all have nothing to do with your taxes.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

I have just started working and i am not sure what i should
fill in for the Exemption on the NJ tax forms. I just
graduated college and i will be liveing w/ my parents for a
while. I am single and my income is 41K/year. No kids. Both
of my parents work and i will be paying rent each month. how
many exemptions whould i claim and what letter do i pick
from the table on one of the forms. Thank You, your help is
really needed cause im lost when it comes to taxes.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >