wat do i put down on my w4 form for them to take out less taxes....im 21 im married..i live with my wife in an apartment. and its just us 2 and she dont work and i make 24000 a year..
how many allowances do i put
? and do i put exempt or non exempt?
2007-06-21 11:51:04 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
You are not exempt buy putting down more exemptions will have less withheld. With married and 2 you won't have a lot withheld and should come out about right for the year.
2007-06-21 11:56:06 · answer #1 · answered by shipwreck 7 · 0⤊ 0⤋
You are not exempt. You can claim a maximum of 3 exemptions (1 for you, 1 for spouse and 1 for Married and non-working spouse). If you claim 3, you should expect to be dead break-even or with a small balance due or refund at the end of the year when filing taxes. If you claim 2, you should get a small refund. If you claim zero, you should get a definite refund. You either get it during the year (claiming 3) or at the end of the year (claiming zero).
This is assuming no children. If you have kids, you get a few more tax breaks. But believe me the cost of the kid is more than the tax savings. :-)
2007-06-21 12:02:58 · answer #2 · answered by Julie_CG 1 · 0⤊ 0⤋
I would put two allowances (one for you and one for her).
If you two have any children, you should be allowed to take one additonal exemption for each child.
I doubt you are exempt from taxes. I always leave that blank (meaning non-exempt).
2007-06-21 11:56:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋