w4 forms

[netsfan549]

I just got a new job. I pay for rent and my parents stuff since they aren't working. Am I head of household? I don't know what number to put on w4 form.

[Meticode]

Read over this and see what you think...

http://taxes.about.com/od/filingstatus/qt/headofhousehold.htm

You might be able to claim it, but not sure about the qualifying person claim considering you pay for you mom and pops seemingly? Not sure on that part...

[KevinNYC]

I just got a new job. I pay for rent and my parents stuff since they aren't working. Am I head of household? I don't know what number to put on w4 form.

It probably comes down to what their income is. If they are getting unemployment that counts as income. Social security probably does too.

http://taxes.about.com/od/dependents/a/Dependents_3.htm

Six Criteria for Qualifying Relatives

The dependent cannot be a qualifying child of another taxpayer.
The dependent earns less than the personal exemption amount during the year. For 2013, this means the dependent earns less than $3,900.
The taxpayer provides more than half of the dependent's total support during the year.
The taxpayer is related to the dependent in certain ways.
If the dependent is married, the dependent cannot file a joint return with his or her spouse.
The dependent must be a citizen or resident alien of the United States, Canada, or Mexico.

[netsfan549]

It probably comes down to what their income is. If they are getting unemployment that counts as income. Social security probably does too.

http://taxes.about.com/od/dependents/a/Dependents_3.htm

Only my dad gets social security

[outbreak]

Can't help with the question but you've definitely come to the right place for an answer. Whenever I need help with financial or legal advice the geniuses on ISH are always my first port of call.

[knickballer]

I doubt it at the moment since you just got the job and I'm assuming you were unemployed which i'm assuming you didn't support them(just taking a guess)

Do you provide more than half of their income and do you pay the bills of your home(rent may not be enough)? Are your parents claimed by anyone else(ex your siblings?

If you do provide more than half of their support and pay most of the bills for the house chances are you can be claimed as head of house(assuming they aren't claimed by your sister or brother). Good chance you can claim your parents as a dependent as well as a qualifying relative although my Tax knowledge is a bit rusty atm.

[knickballer]

Can't help with the question but you've definitely come to the right place for an answer. Whenever I need help with financial or legal advice the geniuses on ISH are always my first port of call.

Actually, It might be a decent place as we do have some accountants and professionals who know what they are talking about.


But lets be real this forum doesn't specialize with financial/legal advice. Our main specialty is advice on being Alpha and how not to be beta.

[DeuceWallaces]

That will probably get you audited so make sure you have everything in order.

[netsfan549]

well you never know someone might have an answer lol..

Yes, I paid for most of the income. Rent, Electricity, car insurance, food etc... and no one claims them as a dependent