Hi-
New poster here! I just did my taxes last night and am getting a huge refund ($1512 federal and $4152 WI). I am trying to get this closer to $0. Please help me figure out what to claim on my w4
Incomes:
Husband: $85,000/year paid Monthly
No pretax deductions (no 401k available)
Me: $40,000/year paid biweekly
Pretax deductions:
Health Insurance premiums: $1950/year
Flex Medical and Daycare: $6,000/year total
401k: $18,000/year with $4,500 match
Rental property net income: $4,500/year
Deductions:
Kids: 2 kids
Charitable Contributions: About $12,000/year
Mortgage Interest: $12,650
Property Taxes: $4,000 annual
Husband Traditional IRA: $5,500/year
Let me know if more info would help!
Thanks