Can anyone tell me what is the best way to file on income tax? I'm married and claim Married an one, so is it better to claim married and zero or married and one? I think you can claim yourself...any suggestions?
2007-02-13 03:35:58 · 4 answers · asked by doing my best 2 in Business & Finance ➔ Taxes ➔ United States
The more you claim, the less tax will be withheld. At the time you file your taxes you may have to pay. File as "Married, filing jointly".
Depending on your circumstances, you may want to claim "0".
2007-02-13 03:41:28 · answer #1 · answered by PALADIN 4 · 0⤊ 0⤋
Are you referring to the W-4? The recommendations are as follows.
1. 1 allowance for yourself if no one can claim you as a dependent.
2. 1 allowance if you are single and have only one job; or
you are married, have one job, and your spouse does not work; or
your wages from a second job or your spouse's wages (or the total) are $1000 or less.
3. 1 for your spouse but you can choose 0 if your are married and have either a working spouse or more than one job.
4. 1 for each dependent.
5. 1 if you are head of household
There are others if you look on the w-4 but this is a start.
This gives the maximum allowances, you can always put less.
2007-02-13 03:47:55 · answer #2 · answered by Barkley Hound 7 · 0⤊ 0⤋
If you owe this year, you might consider changing your W-4 to married with zero allowances. If your spouse also works, this might get you closer to breaking even on your taxes.
2007-02-13 05:00:33 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
The best thing that can help you better understand your withholding is go to www.irs.gov, individual, withholding calculator. Complete the form and this should clear the fog somewhat.
good luck & bless
2007-02-13 03:42:23 · answer #4 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋