Hi there,

My name is Judi and I have a double barreled question. My fiancé and I are considering whether we should get married before the end of the year. My first question has to do with him. He owns a $530,000 home and is claiming only 3 on his exemptions.

Question 1: If he makes 125k per year -- he pays 500 per month in property taxes and 2000 a month in mortgage interest -- with ZERO dependents, how many exemptions should he be claiming on his W4?

Question 2: If we get married -- I make 50k per year with 3 children. I do not own a home. If we get married before the end of the year, how many exemptions should we claim on our taxes?

Thanks in advance,
Judi

Each dependent is worth one exemption. A house can be worth 1-3 depending on the amount of annual taxes and interest. I would be conservative at 2.

Agreed!