Hello,
I'm a single home owner in Baltimore, MD. I will make $55k this year with salaries and bonuses. I made $47k last year as stated on my W-2. I received back approximately $2,200 from Federal and $640 from the State. I claimed single and 1 in both categories
I want to elect exemptions so that don't get back and I owe very little if I owe at all. What do you suggest my elections be?

Sorry for the delay in answering; there was a glitch in the updating process on my computer.

Up your exemptions to 2 on the state and 3 on Form W-4. That should reduce your refund without having a huge tax bill come April 2008.