My husband and I have two girls. If my husband put an exemtion of 3 on his W2, does that mean that I can only put 1 on mine? Please advise how it works, I am so clueless!
2007-08-03 08:34:28 · 8 answers · asked by Hi-D 1 in Business & Finance ➔ Taxes ➔ United States
When your husband puts down three exemptions on his W-4, it means that the Feds will withhold less taxes from his paycheck than they would if he had put down 1 exemption. You can put down almost any number you wish, as it only has to do with the amount of Federal tax withheld from each paycheck. When you fill out your tax return that is when the number of exemptions will be important; there will be 4 exemptions, 1 for each member of the family. Without having any other knowledge of your families total income or age of your kids, I can't tell you what number to put down on your W-4. But you will not get in trouble if you put down 1,2,3 or 4.
2007-08-03 08:45:23 · answer #1 · answered by Anonymous · 0⤊ 1⤋
It's a W-4, not a W-2 - a W-2 is what your employer gives you at the end of the year to show your income and deductions for the year.
You should probably put 1 allowance on your W-4 since you have a total of 4 exemptions between you. If your girls are under 17 and you get child tax credits for them, you could probably put additional allowances on one or both of your W-4's and still be OK at tax time. There are several worksheets with the W-4 to help you calculate what to put.
2007-08-03 15:58:44 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
You and your hubby should sit down together with a copy of Form W-4 and fill out the worksheets on page 2 to figure your proper combined withholding allowances. The number you arrive at will be the total allowances you should claim. The one with the higher income should claim all of them and the other should claim zero. If you income is nearly the same you can share then any way you wish.
2007-08-03 15:43:59 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
The w-4 form, which is the one you fill out when you get a job, has a chart to figure it out, but it will say you put m4 because you are married and there are 4 people in your family.
If you don't need that much money right now, you can put fewer and you will get a bigger return when you do your taxes.
2007-08-03 15:43:45 · answer #4 · answered by David V 5 · 0⤊ 1⤋
If you want to avoid potentially owing money at the end of the year I would put 3 for your husband and 1 for you. If you want to get a small refund then put 0 for yourself.
2007-08-03 15:37:27 · answer #5 · answered by Luv2Answer 7 · 0⤊ 1⤋
The exemptions determine how much tax is withheld so, you want to have enough exemptions to end up not owing money to Uncle Sam at the end of the year.
Best is to only claim 1 in yours to ensure enough withheld taxes.
2007-08-03 15:39:40 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Use the withholding calculator on the IRS website. It will give you a decent idea.
2007-08-03 18:48:27 · answer #7 · answered by Tom's Mom 4 · 0⤊ 0⤋
on your W-$ , not W-2, you can put the same as him -
Married - 3, or Single -3 (whichever one he did) or anything else you want - what does hubby say?
2007-08-03 15:41:22 · answer #8 · answered by Anonymous · 0⤊ 1⤋