My husband has been filing Single two dependents on his check at work. He just changed to married 6 dependents. Will this make a diffrence on what he brings home?
2007-05-30 07:34:59 · 10 answers · asked by crystalt 1 in Business & Finance ➔ Taxes ➔ United States
We do have this many dependents and I do not work. Will we still owe in 2008? We have been told because I don't work that we should not owe that we just want get much back.
2007-05-30 07:47:43 · update #1
Yes, changing his status with regards to his paycheck will result in a higher take home pay. The change from single to married will do that, as well as the changing from 2 dependents to 6 dependents.
2007-05-30 08:24:58 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Bostonianinmo has provided a great answer based on your question, and indication that there are 6 dependents. Just as further information, if you do start working, You should file 0 on your W-4. This will insure you have enough withheld and don't end up owing in April.
2007-05-30 23:04:14 · answer #2 · answered by RopeResQ 2 · 0⤊ 1⤋
Yes, it will, but it will also change how much you may OWE when the time comes to file if that 6 Dependants is not correct.
2007-05-30 14:42:55 · answer #3 · answered by Marvinator 7 · 0⤊ 0⤋
Well, it's certainly going to change what he nets on his check each period. He'll bring home more, but how much of a difference depends on how much he makes.
The IRS has a nice withholding calculator you can use to find out if you're on track with what you're withholding, or if you need to change it. Here's the link:
http://www.irs.gov/individuals/article/0,,id=96196,00.html
It'll give you an estimate of whether or not claiming 6 right now will put you in jeopardy to owe come tax time.
Hope that helps!
2007-05-30 15:11:44 · answer #4 · answered by starlight_chic06 3 · 0⤊ 0⤋
His take-home pay will definitely go up. If you had been getting a large refund at the end of the year this is probably a pretty good idea. Your refund will be much smaller but without knowing your exact numbers it's not possible to say exactly by how much. If you have 4 kids, claiming Married and 6 should still result in a modest refund at tax time as long as he only works one job and you don't bring in any income.
2007-05-30 15:31:32 · answer #5 · answered by Bostonian In MO 7 · 1⤊ 1⤋
Yes, he'll get more in each paycheck, since they'll take out less taxes. You might or might not end up owing when you do your tax return next year, depending on your total income, dependents, and other items.
2007-05-30 14:55:02 · answer #6 · answered by Judy 7 · 0⤊ 0⤋
Yes he will bring more home, They don't care what you claim on your payroll check, just remember you have to settle up April 15th. But I would never go over married and 9 dependents.
2007-05-30 14:38:14 · answer #7 · answered by misty m 4 · 0⤊ 0⤋
He will bring home more but your refund will drop next spring and (if 6 is too high) you run the risk of owing.
2007-05-30 14:41:19 · answer #8 · answered by Wayne Z 7 · 0⤊ 0⤋
Yes, I hope he was getting refunds before, because he's gonna owe at the end of the year if he continues this way.
2007-05-30 14:40:40 · answer #9 · answered by Anonymous · 1⤊ 0⤋
YES!! There is a calculator at irs.gov that will allow you to figure out what the difference will be.
2007-05-30 14:38:29 · answer #10 · answered by Anonymous · 0⤊ 0⤋