Hello crew!
I need some help with my wife and I’s W4. I’m stressed to the moon about this and I don’t know why - I just want to figure out what makes the most sense for my family. Hear me out and let me know if you can what I should do. I’d love to connect.
So, we have 2 kiddos. I make more than her but it’s tricky because my income fluctuates due to tips. Let’s say one year it’s 70k, the next 80k. She makes 60k so our incomes are close for the most part but I definitely earn more. I just don’t want to owe anything at the end of the year -
1. Are we ok to do married filing jointly and both of us just click the box where it’s 2 incomes that are similar?
We’re close in pay, but how close does it need to be?
2. I claim the 2 dependents because I’m the higher earner?
3. When I ask her what hers is she says she doesn’t know and that it’s always been 0. But now with the new W4 I want to make sure it’s dialed in.
4. State of Minnesota - this has the 0/1/2/3. How should be both go about that? Me claiming 3 for me plus the 2 kiddos just feels like a lot. And then her claiming 0 I don’t want her paying more taxes if she makes less than me.
It’s a lot I know but please someone I’m so stressed. It’s hard for me to do the calculators because every week is different for my pay.
Maybe for state I can do 2 and she can do 2 so we arrive at our 4 allowances for a family of 4? But I feel like that won’t be enough withheld? Or is it
id be happy to call or chat or zoom with someone please let me know - coffee on me
