marmarouk
Jul 29, 2008, 12:47 PM
Could you please help me figure out how much to claim on my w4? I make about $37000 my husband about $80000. We have one child and file taxes jointly.
AtlantaTaxExpert
Jul 29, 2008, 01:20 PM
Actually, it is rather simple. Claim ZERO exemptions as MARRIED.
You see, because your income is piggy backed on your husband's income, the FIRST dollar you make is taxed at the tax rate imposed on the LAST dollar your husband makes, which is about 25%.
So you need to OVER-withhold. Claimign ZERO exemptions will probably do the trick.