I just recently got married and started a new job. My wife works and she makes more money than I do. My question is how should I file my taxes: Single, Married, or Married, but withhold at higher single rate? Thank you
2007-02-26 07:51:58 · 2 answers · asked by mien_4 2 in Business & Finance ➔ Taxes ➔ United States
It depends on when you were married. If you were married in 2007 then you will file as single. If you were married in 2006 you can file as married filing joint or married filing separate.
2007-02-26 08:47:32 · answer #1 · answered by R Worth 4 · 1⤊ 0⤋
Choose your status and exemptions based on the amount of taxes you need withheld during the year.
Typically, single 0 will result in the most taxes withheld.
Your goal should be to NOT get a huge refund at tax filing nor pay a large amount.
You also need to consider what status your wife is filing. For the both of you, I would think married joint with 1 exemption would be a good starting point.
During the year, your employer should be able to change this status for you. Simply fill out another W4.
Good luck.
2007-02-28 06:02:02 · answer #2 · answered by Molly 6 · 0⤊ 0⤋