Hello mmendez09,
It's not clear from your question whether you filed jointly with your wife and whether your wife also have a W2 or not. As a general rule, you should review your W4 every new year especially if you received wage increases during the previous year. Assuming your wife also works and gets W2 every year, both of you should complete Step 2 of the W4 and check the box. On Step 3, both of you should definitely include your children. Complete Step 4 if it applies to you. I'd advise both of you to complete Step 4(c) and enter an additional amount to be withheld from every payment for both of you. Be sure this is an amount you can both comfortably afford without strain.
You may also use our Tax Tools to calculate how much withholding would be sufficient for both of you to avoid paying taxes at the end of the year. Please see the link here W-4 Calculator Here are additional helpful tax tools More Tax Tools
Thank you
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