Hello,
We are a married couple filing "married filing jointly" when we file taxes. My wife is a stay-at-home mom, so she does not earn any income at all. We have two children 11 and 9 years old. For dependents, should I be claiming 2 (for just the children) or 3 (for the children plus my wife)?
I plan to continue to support my wife financially as long as she would like so that she does not have to work. Per our 2023 tax return my total earnings were $149,000 (taxable income was $121,877) but, if she wanted to get a part time job, what would be the max she could earn per year and not put us in the situation where we would now owe taxes instead of receiving a refund? Is there mathematical calculation to figure that out (would like to be able to figure it out on our own once we can no longer claim the children as dependents)?
Thank You
