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Started By
Message
How many allowances to claim W-4
Posted on 7/28/22 at 1:55 pm
Posted on 7/28/22 at 1:55 pm
Married
Both wife and I have full-time jobs
We have two children, ages 11 and 8.
Should I claim 3? 4? I've heard of people getting hit with underpayment penalties from the IRS. Obviously, I'd like to avoid that.
Both wife and I have full-time jobs
We have two children, ages 11 and 8.
Should I claim 3? 4? I've heard of people getting hit with underpayment penalties from the IRS. Obviously, I'd like to avoid that.
This post was edited on 7/28/22 at 1:56 pm
4
Posted on 7/28/22 at 2:01 pm to GentleJackJones
What’s your income? Your spouses?
What is she claiming?
What is she claiming?
Posted on 7/28/22 at 2:15 pm to GentleJackJones
The new W4 that we use don’t even have allowances on them
Posted on 7/28/22 at 2:33 pm to HarveyBanger
this shite pissed me off big time when they changed the way the W4s were done, had that system figured out 
Posted on 7/28/22 at 2:40 pm to gaetti15
I wish I had a $1 for every time someone came to this board and asked for help with a W4 and provided limited information.
"Hello, I have job; how do I fill out form? Thank."
"Hello, I have job; how do I fill out form? Thank."
Posted on 7/28/22 at 6:18 pm to GentleJackJones
Exact amount you expect to owe in fed taxes / pay periods
Write that number in as the deduction.
Write that number in as the deduction.
Posted on 7/28/22 at 9:20 pm to RealDawg
quote:
Exact amount you expect to owe in fed taxes / pay periods
Write that number in as the deduction.
that's what's going to happen this next fiscal year. but because of a move and other things it wasnt as easy this year
Posted on 7/29/22 at 7:08 am to GentleJackJones
Neither the wife nor I claim shite. I would much rather get a check back from Uncle Sam than write one to him. It's less hassle and my wife and I both make enough that we can take the hit through the year.
It really just depends on how you view it.
It really just depends on how you view it.
Posted on 7/29/22 at 8:18 am to Bard
I claim 6 (family of 4) , I still get money back, don’t understand it but whatever. Guess I’m OT poor.
Posted on 7/29/22 at 8:53 am to evil cockroach
quote:
I claim 6 (family of 4) , I still get money back, don’t understand it but whatever. Guess I’m OT poor.
Odd are your per child tax credits are helping you out there. Back in the day when I had 3 little ones and a tax credit of somewhere around $2k per kid I upped my allowances to 8 and still got a little money back.
This post was edited on 7/29/22 at 8:53 am
Posted on 7/29/22 at 8:56 am to Bard
I want to owe slightly or be even on my return, not trying to give the government a negative interest loan. A huge chunk of my salary is a eoy bonus so I am light on w4 and then I just balance everything with my withholdings on bonus.
This post was edited on 7/29/22 at 8:57 am
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