What can I claim on my W-2 Forms? Federal / State?

I am 27 years old, and I am NOT married and I have 1 child. I currently am claiming SINGLE and 2! But I get SO much taxes taken out, is there another number I can claim to get less taken out. I really dont care if I have to pay a little txes next year, as Im guessing that by the time Im old enough to collect Social Security, there wont be any left!

You can claim 6 if you make less than $58,000/year.

1 for yourself
1 for being single
1 for head of household
1 for your child
2 again for your child (child tax credit)

http://www.irs.gov/pub/irs-pdf/fw4.pdf

Check out the above link for confirmation of what I have said.

BTW, this is for the W-4 form.

This will help sooo much, trust me.

You do not claim on W-2 forms. You claim on W-4 forms.

The instructions for the W-4 go into more detail.

You can claim one for yourself if no one else can claim you as a dependent.

If you are not married and have only one job, or are married to someone who does not work, then you can claim one more.

If the child is your dependent, then you can claim at least one
more, possibly more, depending on what credits (EIC, child care, etc.) apply.

If the child is your dependent, then the total is at least three, perhaps more, again depending on what credits (EIC, child care, etc.) apply.

If the child is not your dependent, then you can claim only 2.

If your child is under age 17 so you can get the child tax credit, you can claim an extra one or two for that, depending on your income. And one more if you can file as head of household, which you probably can. So that would be five. If you qualify for EIC you could go even higher, but that would probably be a good place to start.

You could claim 3 or 4 on you W2 , when you file at years end if you owe too much cut back to 3 . It also depends on your job, you might be able to get some deductions on certain occupations. Senators and such get write offs just to show up once a week .

You can't claim anything on your W-2 forms because they are the wage and tax certificate your employer provides to you and IRS stating what you were paid and what was withheld. You don't change anything on the form.

Its a W-4. If you want less withheld, increase the number of exemptions. Whether you wind up owing additional tax next year has absolutely nothing to do with Social Security.