I'm trying to figure out how to fill in my W4 to get the most in my paycheck without owing taxes next April.

I recently had a baby, therefore, I assume I can include as a dependent. Is he also an eligible child. Or is it an either/or situation?

Thanks

Not sure what you mean by eligible child? Yes, you can fill out the w-4 and answer the questions to get you're your withholding amount that you want to instruct the employer to withhold. Without knowing more details, it will be hard to estimate your withholdings. You may want to consult a tax advisor since your tax situation is more complex.

Ok, so I was using the w-4 assistant on www.paycheckcity.com and it asks for #of dependants (other than spouse) and #of eligible children. I'm filing married joint with only my income so didn't think my situation was particularly complex

Does that make anymore sense?

In this case, you would claim 1 for yourself, 1 for your spouse, and one for your child. That would suggest Married and 3. I looked at the w-4 assistant.
Eligible child: Number of Eligible Children Close
Defined as a child who can be claimed as a dependent, under age 17 for the filing year, is a U.S. citizen or resident alien, is your son, daughter, adopted child, grandchild, stepchild or foster child.

In this case, dependent is 1 and eligible child is 1.

I say 3, the form says claim 6. But I don't no your other variables like income, etc. I lean towards the conservative side when it comes to withholdings. I've seen to many clients owe.

I've just filed my 2009 return (thru a professional) as married 3 allowances so unfortunately I think you might be wrong in your assessment.

Maybe your first reply was right. I should seek real advice. Thanks

Quote:

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Originally Posted by ConfusedNewDad

I've just filed my 2009 return (thru a professional) as married 3 allowances so unfortunately I think you might be wrong in your assessment.

Maybe your first reply was right. I should seek real advice. Thanks

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In my post 4 above, I stated my opinion was Married and 3. Your paycheck site married and 6. As I stated above, married and 6 seemed to be aggressive. Not sure where the confusion else. I think I answered it for you.

Keep in mind, the return is one thing, and the W-4 is another thing. Withholdings are tricky. You can use the chart and tables or your tax pro can also recommend solid withholdings as It's a moving target. Its hard to estimate from very little information.