Sunday, August 22, 2010

What should my husband and I claim on our W-4's?

We were married just a few months ago, and are trying to figure out if we need to change what we claim on our W-4's. We're each claming 1 right now. I make $38,000 a year, and my husband makes $37,500. I'm not sure that it makes a big difference, but any advice would be appreciated! Thanks!What should my husband and I claim on our W-4's?
Here is a link to the free IRS withholding calculator. It should do just what you need http://www.irs.gov/individuals/article/0鈥?/a>What should my husband and I claim on our W-4's?
This will depend on a few things, do you own a house? Do you have any children, what expenses do you have ? I would say for the first year of your marriage that I would claim signle and 0 until you figure out what your deductions are going to be this way you are sure to cover your taxes and mayeb even get a litlle back at the end of the year, I always want to get a little back not have to pay in, if you claim single and 0 then you should be able to figure out the following year exactly what you need to pay in and then change you w4 accordingly, Best of Luck
Get turbo tax deluxe. It's actually very good software and you can claim the expense of it on your taxes. It should help you with this problem.
Oh yes!!! It makes a difference. On the reverse side of the W-4 form is the two wage earner worksheet which you should fill out. Or, you should both just put down zero. Do the worksheet and one of you might have to go to the catagory ';Married but withhold at the higher single rate and put down zero.

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