I claimed 0 on my W-4...?

when I got hired for a job at an AMC theater yesterday. One of the managers was helping me and another new hire out, and she was saying that 0 would have the government take more out now, but give me more back later, or something like that, so I just claimed 0. Was that the best thing to do? I'm an 18-year-old still living with my parents (in California), and I'm a full-time college student

Some people say that it's better to just claim 1, take a bigger paycheck, and deposit some of it into a savings account with interest, and just pay the government back with that if I owe them. If I claim 0, then I'm practically giving the government an interest-free loan. The savings account I have is WaMu and I believe it's .25% (a month, I think)...is that gonna yield much over time?

Any professional advice?

I claimed 0 on my W-4...?sheet music

You are still a dependent of your parents, so you should claim zero. You aren't giving an interest free loan to the government because that's all you are entitled to. If you were NOT a dependent, you'd be entitled to claim 1 - since you are though, your parents get your exemption and you don't get one.

If you make under $5350 for the year you won't owe anything in taxes, so if you make less than about $103 a week they won't take anything out anyway for federal income tax, so it won't matter what you put on your W-4.

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I claimed 0 on my W-4...?

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