Author Topic: IRS withholding allowances - W4 form  (Read 1991 times)

doneby35

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IRS withholding allowances - W4 form
« on: December 18, 2016, 12:40:18 PM »
How many allowances do you choose when you're married and your spouse does not work? I was going to put 2 but then the W4 form says:
1 if no one else can claim you as dependent, 1 if you're married and spouse does not work and 1 for your spouse: this would be a total of 3 allowances.

Should I go with 2 or 3?

MDM

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Re: IRS withholding allowances - W4 form
« Reply #1 on: December 18, 2016, 01:47:42 PM »

HPstache

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Re: IRS withholding allowances - W4 form
« Reply #2 on: December 18, 2016, 11:20:54 PM »
There is not enough information given.  But 3 is the correct allowance if you were following the w4 form to the letter.  I set up an excel spreadsheet to simulate my coming year's taxes to make sure I am making the correct allowance.

Drifterrider

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Re: IRS withholding allowances - W4 form
« Reply #3 on: December 19, 2016, 12:34:54 PM »
How many allowances do you choose when you're married and your spouse does not work? I was going to put 2 but then the W4 form says:
1 if no one else can claim you as dependent, 1 if you're married and spouse does not work and 1 for your spouse: this would be a total of 3 allowances.

Should I go with 2 or 3?

I'm single.  I take 4 federal and 2 state.  I get very very close to break even each year at tax time.

MDM

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Re: IRS withholding allowances - W4 form
« Reply #4 on: December 19, 2016, 01:25:39 PM »
I'm single.  I take 4 federal and 2 state.  I get very very close to break even each year at tax time.
Then you could guess that, for the same income, switching to MFJ with 4 federal and 2 state would suffice.

To know instead of guess, you'll want to take one of the approaches mentioned in the posts linked previously.