Hi,

I am starting a new job, and I'd like some guidance in determining allowances for my w-4. Here are my stats:

Single, Head of Household
$100K/year salary
1 dependent (in addition to myself)
~$5400 in child care expenses/year

I'd like to hit the sweet spot where I don't have to pay taxes, but I don't want an exorbitant amount withheld from my paychecks just to get a fat refund at tax time. Guidance will be greatly appreciated. Thanks!

Follow the instructions and it should turn out fine. In your case that 's one allowance for you, plus one for being single and having one job, plus one for a dependent, plus one for having more than $1,900 in child support credits, or four total. Remember that the guidelines are just suggestions and whether or not you owe more or less will depend on a lot of opther factors such as deductions for mortgage, charity, other taxes, etc.. After you file your taxes next year you can modify your W-4 up or down as appropriate to better match your situation.

While everything ebaines says is correct, you will not see the results on your 2013 tax return. You will have to wait until the 2014 tax return to see if the withheld amount is accurate to meet your tax liability.