Involuntary Deductions
These are the payroll deductions that must be taken out of an employee’s pay. There are 4 main types of taxes, there might be more depending on where you live.
W-4 Form: The more allowances you claim, the less your employer will withhold from your paycheck each month
- Claiming “0”
- Maximum amount of money will be withheld from your paycheck each period
- If you’re a student and your parents file you as a dependent
- Claiming “1”
- Claiming yourself as a dependent
- Withholding less, and will get more each paycheck
- Single and have 1 job