Help with w-4

[Huskie87]

looking for help on the number of allowances I should take.  It seems like every website recommends a 0,1 or 2, but my math is telling me otherwise...so just looking for affirmation or a correction to my logic.

1, for myself
1, for my wife
1, for my child as a dependent
1, because I plan to have more than $2,000 in child care expenses which I plan to claim a credit on
1, for my child that is eligible for the child tax credit

So that right there is 5, which is way higher than what I see most people doing.  In addition, when I complete the second sheet on the W-4, I get an additional allowance for my itemized deductions, so I guess I could do a 6.

Would my wife also file a 6?  Or would only one of us claim the child allowances and itemized deduction allowances?

Appreciate any help!

[braje]

Try this https://apps.irs.gov/app/withholdingcalculator/index.jsp

[solon]

Your logic is correct. I wouldn't trust those websites telling you 0-2. Did they ask questions about your personal situation? Whatever number the W-4 worksheet tells you - that's the correct number.

I am married with four kids. I've had years where I claim 10 allowances.

[MDM]

Probably more information than you need, but somewhere in
http://forum.mrmoneymustache.com/taxes/best-way-to-calculate-w-4-exemptions-for-2016/
http://forum.mrmoneymustache.com/taxes/would-you-rather-owe-or-get-a-refund/
http://forum.mrmoneymustache.com/taxes/am-i-witholding-too-much/
http://forum.mrmoneymustache.com/ask-a-mustachian/turbo-tax-vs-cpa/
http://forum.mrmoneymustache.com/taxes/best-paycheckwithholding-calculator(s)/
you might find a useful tip.

In short, one good way to calculate the appropriate number of allowances is by doing an estimated tax return to find your expected annual tax due, then adjusting the allowances to match that.
This is particularly true if you have multiple W-2 incomes.