<prompt> Human: Hi all,I was wondering - I would like to change my federal exemptions from 0 to 2, since Im a single man with no dependents. I have a salaried position with the same pay monthly, so I imagine my monthly net income will go up, but my tax refund will decrease, is this correct?Also, what happens when I do taxes next year, given that I changed my exemptions during the year? What do I put as my exemptions, and does changing during the year complicate the process?Is there any reason why I shouldnt change my of exemptions? If I get the same money earlier, that means I can pay my debt off before interest is accrued. Is there any benefit to get the tax withholding later?Thanks!  <response>: First of all, its allowances. Allowances in W-4 try to approximate standard deduction and exemptions which do not exist anymore in 2018 so that tax withholding is approximately equal to tax liability.If you increase your allowances, less money is withheld for tax, and youll have more net pay, and less tax withheld.Again, there are no personal exemptions anymore in 2018. You get a flat 12k standard deduction as single with no children. 