I paid off only student loan interest last year. I also took two state and two federal deductions off my paycheck. Will that affect how much I get back? If not, what does?
Will I get more back in April for paying student loan interest?
Your W-4 filing determines how much tax is withheld from your paycheck. The more allowances that you claim on your W-4 means less taxes are withheld from your paycheck. Therefore, you should have a smaller tax refund than someone that claimed zero allowances assuming everything else is equal.
Paying student loan interest lowers your taxable income which increases your tax refund.
Will I get more back in April for paying student loan interest?
In your sitation,I would like to suggest you have a look here.http://studentloan.online-helpers.info/s...
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