thebeat

A little background info...

I just turned 22...single and 2004 is the first year i've had a full-time job (salary) all year long. I claimed "1" for my federal exemption basically just claiming myself. The first question is, is claiming "1" a bad idea when tax time rolls around?

For instance my year end income was a little over 26k and I forked over 2633.00 in Federal Taxes roughly 10% of my total income. Im just curious also if I'll end up getting a very small refund or perhaps even having to pay in due to the "1" exemption.

Any insight would be great.

Thanks

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