Hi,
I would like to know what would be the best way to estimate how much to withhold and fill out the W-4 for both my wife and I. I understand the calculation used to figure out how much to withhold based on pay periods and income.
Our situation is bit of a doozy but I would like some help in how to properly do the deductions such that we aren't paying taxes/receiving a refund. Ideally a net zero but I understand this is impossible.
- Married filing jointly.
- We have a house paying interest.
- 1 child, another on the way this year.
- Have a 529.
- Have medical expenses due to pregnancy.
- Wife has a 403b and I have a 401k.
- No other income aside from our 9 to 5.
I'm not sure if this situation is weird, but having another kid in the middle of the year with medical costs associated with the pregnancy is making the medical deductions difficult.
Any guidance is appreciated!
