Unfortunately, we made a significant amount more money this year, and didn't withhold enough so we ended up owing $2000. Since my husband started a new job in May of last year, he'll be making even more next year due to working a full year at the new job. So now I need to figure out how much we need to withhold throughout the year to avoid paying next year.
I assume I should count on at least $2000 additional. But how can I figure out how much more than that we need to hide away?
I do W4's every year and I still find them confusing.
FWIW, either or both of us will increase the amount we contribute to our 401(k) and his 457. I figure if we can't have it on hand to spend it might as well go toward retirement!
2007-04-04
11:27:29
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5 answers
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asked by
Anonymous