W4/taxes

Pancaked
Tue, 11 Sep 2012 23:47:02 +0000

This isn’t directly related to finaid but…

Any advice for a student filling out a W4? It appears I can only claim one allowance (for being single)… is it possible to claim more? How many can/should I claim?

I make just enough so that I don’t have to file taxes, but I claimed zero allowances while working over the summer, so I figure I should file taxes to get withheld money back. I’m assuming this is the correct mentality… Will filling taxes affect finaid at all? I mean my income would have been reported either way, through my tax return or on my parents’.

Thanks!