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    bullfrog88's Avatar
    bullfrog88 Posts: 1, Reputation: 1
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    #1

    May 1, 2011, 04:57 PM
    What should I claim on a W4 with 2 kids?
    I filed married and 0. Should my wife file married and 2?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    May 2, 2011, 07:05 AM

    Per the directions on the W-4 it would seem appropriate for your wife to claim 3 personal allowances: 1 for herself and 2 for the children.

    The fact that you claim 0 personal allowances may cause you to get a bit of a refund at the end of the year, as 3 allowances would seem to be correct for you as well. The goal is to be as close to $0 owed and $0 refund as possible - so I suggest try it for a year and see how it works out. Then next year you can file a new W4 with your employer if you want to raise the number of personal allowances you claim.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    May 2, 2011, 10:42 AM
    I am going to disagree with ebaines on this one and suggest that you keep your W-4s exactly where they are.

    ALL of your wife's income is taxed at your marginal tax rate, which is probably AT LEAST 15%, with a significant chunk at 25%. I am speculating here because you did not give us your income levels.

    However, in such cases, I think it is better that you play it safe and OVER-withhold. If you get a large refund, then you can adjust the W-4 next year. Most families would find it to be a significant hardship to have to come up with several thousand dollars to send the IRS come 15 April 2012.
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