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    DCinPA's Avatar
    DCinPA Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jan 10, 2007, 09:01 AM
    Withholding for Married Couple with Child
    I'm looking for advice regarding withholding exemptions. We're not looking to overpay but we don't want to be left owing much (breaking even would be ideal).

    Here are our particulars:

    I make 30k
    Wife makes 40k
    We have a 1 1/2 yr. old daughter in full-time daycare
    We live in Pennsylvania

    At this point, I've claimed myself and my wife for the personal exemption and our daughter as a deduction. My wife has claimed our daughter only.

    Is this a wise move? Would you recommend any changes?

    Thanks!
    DCinPA's Avatar
    DCinPA Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Jan 10, 2007, 09:02 AM
    Quote Originally Posted by DCinPA
    I'm looking for advice regarding withholding exemptions. We're not looking to overpay but we don't want to be left owing much (breaking even would be ideal).

    Here are our particulars:

    I make 30k
    Wife makes 40k
    We have a 1 1/2 yr. old daughter in full-time daycare
    We live in Pennsylvania

    At this point, I've claimed myself and my wife for the personal exemption and our daughter as a deduction. My wife has claimed our daughter only.

    Is this a wise move? Would you recommend any changes?

    Thanks!
    Also, we plan to file jointly.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Jan 11, 2007, 06:11 PM
    With the day care credit and the Child Tax Credit, you should be okay.

    Do you own a house or do you rent? That can make a BIG difference!

    If you need professional help preparing your return, please consider using my services. You will find my rates extremely competitve. Contact me at [email protected] if you are interested! I have references from clients who are people just like you.
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