My husband holds a L-1 Visa , and I am on L-2 working on EAD.
I would like to know what deductions/exemptions can be shown.
My husband claims me as a dependent.

Spouse is never a dependent. You can file joint return as residents after you complete SPT.
On W-4, both of you can put 1 allowance and married.

Hello Mukata,

Thank you for responding to my question.
I have just read about SPT. I am not sure If we would fall in to that category , as I came to US in 2011 June .
And my husband was here from 2010 June(Unmarried till March 2011). He has already filled his W-4 form.
And I am going to fill it now, as I started working recently.So can we fill them separately?
Will it be disadvantageous if we fill them separately? I have very little knowledge about L-2 filing for w-4.
Could you please provide me a sample or any link specific to L-2 EAD filing W-4.