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Question on W-2: claiming 2

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  • Question on W-2: claiming 2

    I'm single, no children, no dependents, mortgage or anything.

    I live in NJ and work in NYC. Therefore, I pay NY taxes only. I claimed 2 on my form when hired. Is that enough or will I owe. I think I heard somewhere that it might break me even where I wont owe or get anything back..

  • #2
    Not enough information. You can get a rough estimate by going to PaycheckCity.com.

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    • #3
      There is also a calculator at irs.gov.
      Steve

      * Despite the high cost of living, it remains very popular.
      * Why should I pay for my daughter's education when she already knows everything?
      * There are no shortcuts to anywhere worth going.

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      • #4
        Use the IRS withholding calculator to figure out what to claim, and use the paycheck city calculator to figure out what your net pay will be.

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        • #5
          Good advice noppenbd. Both sites provide different but necessary information.
          My other blog is Your Organized Friend.

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          • #6
            thanks!

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