I am married. My W2 shows "single" for marital status and my wife's says "married". We claim federal and state exemptions/allowances of 1/0. I noticed that my withholding is about 18% of my income afer reductions, while hers is about 11%. Because of this, we owe taxes on this years tax return. Is she supposed to fill out her W4 saying "single"?
2007-04-08 18:44:31 · 4 answers · asked by taxcurious 1 in Business & Finance ➔ Taxes ➔ United States
The reason I suspect the W4 status is because we have no other income than the one shown on our employer's W-2.
2007-04-09 08:27:45 · update #1
First, married people pay taxes on a lower rate thatn single people. If you owe taxes, it is not due to you status on the return. It is due to other taxable income, this other taxable income is not your wages.
Both of you can change your W4 to S-0 to avoid this situation. Also, the taxes you owe is an interest free loan from Uncle Sam.
2007-04-09 01:03:37 · answer #1 · answered by c1523456 6 · 2⤊ 0⤋
If you're both making a pretty good income, it can be wise to check the box that says "married, but withhold at higher single rate" - that would give the same result as "single" on your W-4.
Rates are lower (brackets are wider) for married people than single, but if both people make a good income, and your incomes are pretty close to each other, there often isn't a lot of difference from what two single people making the same incomes would pay.
2007-04-09 02:43:23 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Filing Married, as Single simply deducts more money from your pay, using the higher single rate. Truthfully, if yours was married, as single, and hers was single... you should have seen a small return. If you owe, it was because of other taxable income... or due to a lack of deductions on your part. If you make a high income, and are in a higher tax bracket, then they should have withheld a higher percentage of your income based upon that tax bracket.
Use below URL to see if they can save you money on the taxes that you owe...
2007-04-11 13:15:03 · answer #3 · answered by John M 2 · 0⤊ 0⤋
do no longer panic. Its very accessible that a married couple with 2 infants will finally end up with out tax criminal duty and as a result the withholding value of $0 is fairly superb. bypass to the IRS internet site and discover the W-4 allowance calculator. put in your training and notice what you would be claiming on your W-4. as long as he's no longer claiming greater effective than the mentioned form of allowances, you adult men could be wonderful. yet differently to calm your nerves could be to run a ridicule tax return employing 2009 types and all of the year-to-date numbers from his pay stubs. Tax expenditures have not replaced for the reason that final year so as that would grant a fairly close estimate of what this year's tax return will appear like.
2016-10-21 10:03:35 · answer #4 · answered by Anonymous · 0⤊ 0⤋