Tuesday, May 11, 2010

I am married is claiming 0 or 1 better?

We are filing jointly, currently rent, but I do not want to owe money at the end of the year. If I were to claim 1 would I owe money at the end of the year?? I currently am claiming 0 and get quite a bit back at the end of the year, beginning to think I would rather get less back but still not owe.I am married is claiming 0 or 1 better?
Claiming 0 increases your witholdings and your refund.





There's a worksheet on the W-4 form that tells you what to claim if you and your wife both work.I am married is claiming 0 or 1 better?
You can probably each claim 1 and not owe, but if your incomes are both fairly high you might be better off claiming zero.
If your spouse doesn't work, claim at least 2.

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