W-4 Basics: Kids and College Students Earning Less Than $12,000 Should Claim Exempt

Andrew Schwartz CPA discusses how most kids and college students should fill out the W-4 form for their summer or part-time jobs. By claiming Exempt, your employer will NOT withhold any federal income taxes, so you’ll have more money in your pocket with each pay check, and won’t need to file a tax return next winter to get back taxes that were unnecessarily withheld . Want to learn more?? Check out our 5-minute version of this video available at: https://youtu.be/7ywlxeq-9nE​.