2007-02-28 09:28:44 · 9 answers · asked by pumpkin 1 in Business & Finance ➔ Taxes ➔ United States
If you want to get a large refund (and let the gov use your money interest free) then claim a lower number. If you'd like to get it as close as possible then claim 2.
2007-02-28 09:33:08 · answer #1 · answered by Heather Y 7 · 0⤊ 0⤋
I would claim a 2 or 3
2007-02-28 17:36:11 · answer #2 · answered by Baby #1 born August 2009 6 · 0⤊ 0⤋
I suggest you see a professional to evaluate your whole tax situation. Several of the answers you have already received are half correct. you will definietly need to file Married filing joint on any future tax returns not Head of Household unless you become seperated from your wife. Gif its just the two of you anything over $16,900 in income will be taxable. General rule of thumb is that your withholdings should equal 20% of your wages to account for any tax liability.
If you have children the whole thing changes because of the child tax credit and earned income credit.
So when filling out your w-4 I suggest that you consider the above information or consult a professional.
2007-02-28 19:17:17 · answer #3 · answered by biatch1969 2 · 0⤊ 0⤋
You can safely claim up to 3 in your situation. If you claim 3, you'll get a very small refund next year or possibly even have to pay a few $$$, less than $50 either way in most cases. If you're not comfortable cutting it that close, claim 2 instead.
This assumes that you have no other income but your W2 wages.
2007-02-28 18:07:04 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
I'd claim 3 in that situation.
1 for yourself
1 for being married and spouse not working
1 for your spouse
(Line a,b,c)
If you like getting a large tax refund, put in a lower number. If you don't like giving the government an interest free loan and would rather pay a little bit during tax time, put down 4. IF you want it to be about even, put down 3.
2007-02-28 17:34:48 · answer #5 · answered by Vegan 7 · 2⤊ 0⤋
Bostonian is right. The W4 instructions call attention to the exceptions he mentions. "rule of thumb 20% tax liability"? Circumstances vary wildly based on dependents, deductions, and other income, not to mention the size of the salary in the first place.
2007-02-28 19:23:57 · answer #6 · answered by CarVolunteer 6 · 0⤊ 0⤋
If you can afford it claim one on the W-4 form and claim two as Head-of household when you file your 2007 taxes in 2008.
You will receive a larger refund from Federal & State.
2007-02-28 17:33:51 · answer #7 · answered by Ronatnyu 7 · 0⤊ 4⤋
You would be entitled to claim at least two, maybe more depending on if you plan to itemize your deductions.
2007-02-28 17:38:25 · answer #8 · answered by Brian G 6 · 0⤊ 0⤋
You need to see a tax pro. I use H&R Block and they always get me strait.
2007-02-28 17:33:11 · answer #9 · answered by Anonymous · 0⤊ 3⤋