basestfan
Feb 18, 2008, 12:05 PM
I just recently got married. Is there a way to calculate the difference in my paycheck if I change my taxing profile in my company to reflect that? (I understand that the taxes on salary will be lower).
Thanks.
ebaines
Feb 18, 2008, 12:16 PM
Here's a handy calculator that can answer your question:
Federal State Withholding Calculator (http://www.yourmoneypage.com/withhold/fedwh1.cgi)
The instructions for the W4 form walk you through the process of determining how many allowances you should claim - this can be tricky if your spouse also works, since together you may now be in a higher tax bracket. See: http://www.irs.gov/pub/irs-pdf/fw4.pdf for instructions.