Me and My Spouse have full time jobs- we earned a combined income of $244,732 in 2023. We have a now 18 year old dependent that we pay out of pocket for College expenses ($8K) annually. We owed $11K in Federal Taxes because we did not pay enough Federal Taxes in 2023. I changed my exemptions to '0' in June of 2023 and my husband changed his to '1' from '0' exemptions. I believe this offset why we owe. My question is:
1. should we both claim '0'?
2. should we pay an additional amount of money toward or taxes during the year?
3. We both plan to get an 3% salary raise this year, and I may work overtime, should we make any changes to our withholding (W4) when these 2 instances occur?
